MindMap Gallery History of economics development
A mind map of the development history of economics, which mainly introduces mercantilism, classical economics, neoclassical economics, modern Western economics, etc.
Edited at 2024-04-07 21:54:12One Hundred Years of Solitude is the masterpiece of Gabriel Garcia Marquez. Reading this book begins with making sense of the characters' relationships, which are centered on the Buendía family and tells the story of the family's prosperity and decline, internal relationships and political struggles, self-mixing and rebirth over the course of a hundred years.
One Hundred Years of Solitude is the masterpiece of Gabriel Garcia Marquez. Reading this book begins with making sense of the characters' relationships, which are centered on the Buendía family and tells the story of the family's prosperity and decline, internal relationships and political struggles, self-mixing and rebirth over the course of a hundred years.
Project management is the process of applying specialized knowledge, skills, tools, and methods to project activities so that the project can achieve or exceed the set needs and expectations within the constraints of limited resources. This diagram provides a comprehensive overview of the 8 components of the project management process and can be used as a generic template for direct application.
One Hundred Years of Solitude is the masterpiece of Gabriel Garcia Marquez. Reading this book begins with making sense of the characters' relationships, which are centered on the Buendía family and tells the story of the family's prosperity and decline, internal relationships and political struggles, self-mixing and rebirth over the course of a hundred years.
One Hundred Years of Solitude is the masterpiece of Gabriel Garcia Marquez. Reading this book begins with making sense of the characters' relationships, which are centered on the Buendía family and tells the story of the family's prosperity and decline, internal relationships and political struggles, self-mixing and rebirth over the course of a hundred years.
Project management is the process of applying specialized knowledge, skills, tools, and methods to project activities so that the project can achieve or exceed the set needs and expectations within the constraints of limited resources. This diagram provides a comprehensive overview of the 8 components of the project management process and can be used as a generic template for direct application.
History of economics development
1. Mercantilism
The nascent period of Western economics (15th to mid-17th century)
During the period of mercantilism, people believed that wealth was precious metals, and the gold and silver traded in the circulation field were wealth, thus drawing the conclusion that wealth was generated in the circulation field. Therefore, mercantilism emphasizes that if a country wants to become rich, it must attach importance to business; at the same time, it restricts the outflow of precious metals through various methods, and proposes that the state should actively protect and intervene in economic activities, that is, use the power of the state to fight Large exports and restricted imports.
2. Classical Economics
The formation period of Western economics (mid-17th century to 1870s)
Labor in any department is the source of national wealth, and wealth is a material product. That is to say, a complete theoretical system based on the labor theory of value is clearly proposed. The center of the research is how to increase national wealth, emphasizing that to increase national wealth, Production must be developed by increasing capital accumulation and division of labor; and it advocates that the country should adopt a laissez-faire attitude towards economic activities and regulate economic operations through the "invisible hand" of price, so that people can realize their goals in the process of pursuing their own interests. The rational and effective allocation of social resources puts forward the idea of economic liberalism.
3. Neoclassical Economics
The formation and development period of microeconomics (1870s to 1930s)
Neoclassical economics believes that although the market will deviate from equilibrium at a certain time under the influence of certain external forces, due to the role of the price mechanism, the market will eventually return to equilibrium. This is the state that the market should be in under normal circumstances. Therefore, the neoclassical school of economics advocates: believe in the market and let the market mechanism play its role; the price mechanism can not only make various production factors get their due rewards, so that consumers can get the greatest satisfaction, but also can achieve their own goals through self-regulation. Adjustment eliminates cyclical economic fluctuations. Therefore, the state should not intervene in economic activities, because such a mechanism can create an ideal economic society and reach the optimal state. State intervention cannot make it better and will only interfere with the normal operation of the economy.
4. Modern Western Economics
Modern Western economics is marked by the emergence of Keynesianism in the 1930s. The center of this period was the formation and development of macroeconomics. This stage can be divided into four small periods.
(1) Keynesian Revolution Period (1930s-1950s)
The policy of state intervention, Zhang, means that the economy itself cannot solve problems such as unemployment, inflation, and economic fluctuations, and policy intervention by the state is necessary. The proposal of Keynesian Theory adapted to the needs of Western society at that time, and put forward corresponding policy propositions for various economic problems that existed at that time. Because of this, it became widely popular in Western society and had a profound impact on the entire Western economic system. .
(2) Keynesian development period (1950s-1960s)
If the economy has not yet achieved full employment, then Keynesian theory applies; if the economy has achieved full employment, then neoclassical economic theory applies, that is, the state no longer needs to intervene in the economy.
(3) The revival period of laissez-faire thought (early 1970s)
Modern Monetarist School—Mid-1950s
The supply school is - the late 1970s
Monetarist school - from the 1970s to the late 1980s
(4) Institutional economics period (late 1980s)
"Institutional research" has become a trend in Western economic circles, and new institutional economics represented by Coase has become popular. New institutional economics includes enterprise theory, property rights theory, economic growth theory, system and system change theory. Transaction cost theory is one of the important contents of new institutional economics. Transaction cost theory explores the impact of market transaction costs on organizational structure and behavior through the analysis of transaction costs, thus abandoning the assumption in neoclassical economics that there are no transaction costs in market exchanges.