Cookies help us deliver our services. By using our services, you agree to our use of cookies.

Theory and History from the Classical Economists to the Progressives

Gary Pecquet

Presented at: TOC 1989

Date: Nov 10, 1989

Many people believe that the basic theories of Classical economics dominated the profession until the Great Depression. The widespread misconception holds that professional economists and public officials clung to outdated free market principles until real world abuses such as monopolies and economic disasters forced the politicians and academicians to reluctantly move in the direction of government controls. This view is at odds with the actual history of the late 19th century intellectuals. By the turn of the century, laissez-faire had already died out among most economists. The economic profession swallowed large doses of German Philosophy, as did other disciplines and the professors began to push collectivism long before regulation became a political trend.


Parts: 1

Handout: none


  • Not yet available