Classical economists

Classical economists are thinkers from the 18th and 19th centuries who studied how economies work. They believed markets are naturally efficient and tend toward full employment if left alone, driven by individuals pursuing their interests. Key ideas include supply and demand determining prices, the importance of free markets, and the idea that economies self-correct over time without government intervention. Notable classical economists like Adam Smith, David Ricardo, and John Stuart Mill laid the foundation for understanding economic growth, wages, and international trade, emphasizing the roles of competition, specialization, and property rights.