THE ESSENCE OF ALTERNATIVE IDEAS TO THE CLASSICAL ECONOMIC SCHOOL
Keywords:
invisible hand, soil degradation, challenging rationality, economy, agriculture, economic systems.Abstract
The Classical Economic School, championed by Adam Smith and David Ricardo, laid the foundation for modern economic thought. Its core tenets – free markets, individual self-interest, and the "invisible hand" guiding efficient resource allocation – have shaped our understanding of economic systems for centuries. However, the classical approach has faced increasing critique, giving rise to a diverse array of alternative ideas that challenge its core assumptions and offer alternative solutions to economic problems.
References
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