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Plimpton 322 is a Babylonian clay tablet, believed to have been written around 1800 BC, that contains a mathematical table written in cuneiform script.Each row of the table relates to a Pythagorean triple, that is, a triple of integers (,,) that satisfies the Pythagorean theorem, + =, the rule that equates the sum of the squares of the legs of a right triangle to the square of the hypotenuse.
In Croton, Pythagoras established the first Pythagorean community, described as a secret society, and attained political influence. In the early 5th century BC Croton acquired great military and economic importance. Pythagoras emphasised moderation, piety, respect for elders and of the state, and advocated a monogamous family structure. The ...
Hesiod active 750 to 650 BC, a Boeotian who wrote the earliest known work concerning the basic origins of economic thought, contemporary with Homer. [3] Of the 828 verses in his poem Works and Days, the first 383 centered on the fundamental economic problem of scarce resources for the pursuit of numerous and abundant human ends and desires.
The idea of a classless and stateless society based on communal ownership of property and wealth also stretches far back in Western thought long before The Communist Manifesto. There are scholars who have traced communist ideas back to ancient times, particularly in the work of Pythagoras and Plato.
In the history of economic thought, ancient economic thought refers to the ideas from people before the Middle Ages. Economics in the classical age is defined in the modern analysis as a factor of ethics and politics, only becoming an object of study as a separate discipline during the 18th century. [1] [2] [3] [4]
In the history of economic thought, a school of economic thought is a group of economic thinkers who share or shared a mutual perspective on the way economies function. While economists do not always fit within particular schools, particularly in the modern era, classifying economists into schools of thought is common.
The merchant is not a source of wealth, however. The Physiocrats believed that “neither industry nor commerce generates wealth.” [2] A “plausible explanation is that the Physiocrats developed their theory in light of the actual situation of the French economy…” [2] France was an absolute monarchy with the land owners constituting 6-8% of the population and owning 50% of the land.
Classical economics, also known as the classical school of economics, [1] or classical political economy, is a school of thought in political economy that flourished, primarily in Britain, in the late 18th and early-to-mid 19th century. It includes both the Smithian and Ricardian schools. [2]