2006-09-30 02:26:51 · 4 answers · asked by Anonymous in Social Science ➔ Economics
Modern Economic thought started with Adam Smith in his book : 'An Inquiry into the Nature and Causes of the Wealth of Nations'.
If you trawl through the book online, you will see that the word 'economics' does not appear anywhere. But the book's fourth Chapter is called: Of Systems of Political Economy. The term 'political economy' refers to 'statesmen and legislators' either providing revenue for society or enabling society to produce revenue. Here the word 'economy' refers to the ability of a society to sustain itself and not exhaust all of its resources (hence economise).
So before economics was known as economics I would say it was known as 'The Nature and Causes of the Wealth of Nations' which is a bit of a mouthful.
2006-09-30 14:21:27 · answer #1 · answered by mlaric 1 · 0⤊ 0⤋
Philosophy and statistics.
Economics started as a particular area of philosophy that dealt with the distribution of wealth. Adam Smith was actually a philosophy professor.
Later on, statistics were applied to economic principles to get the more scientific approach to the study of economics practiced today.
2006-09-30 04:36:14 · answer #2 · answered by MikeD 3 · 1⤊ 0⤋
Common sense.
2006-09-30 03:12:13 · answer #3 · answered by J.SWAMY I ఇ జ స్వామి 7 · 0⤊ 0⤋
Bartering, trading
2006-09-30 02:28:15 · answer #4 · answered by finaldx 7 · 0⤊ 0⤋