The Great Management Theorists F W Taylor - amazonia.fiocruz.br

The history of economic thought deals with different thinkers and theories in the subject that became political economy and economicsfrom the ancient world to the present day in the 21st Century.

This field encompasses many disparate schools of economic thought. Ancient Greek writers such as the philosopher Aristotle examined ideas about the art of wealth acquisition, and questioned whether property is best left in private or public hands. In the Middle Agesscholasticists such as Thomas Aquinas argued that it was a moral obligation of businesses to sell goods at a just price.

In the Western world, economics was not a separate discipline, but part of philosophy until the 18th—19th century Industrial Revolution and the 19th century Great Divergencewhich accelerated economic growth.

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Hesiod active to BC, a Boeotian who wrote the earliest known work concerning the basic origins of economic thought, contemporary with Homer. Chanakya born BC of the Mauryan Empireauthored Grdat Arthashastra along with several Indian sages, a treatise on statecraft, economic policy and military strategy. The Arthashastra posits the theory that there are four necessary fields of knowledge: the Vedas, the Anvikshaki philosophy of Samkhya, Yoga and Lokayatathe science of government, and the science of economics Varta of agriculture, cattle, and trade.

It is from these four that all other knowledge, wealth, and human prosperity is derived. Ancient Athensan advanced city-state civilisation and progressive society, developed an embryonic model of democracy.

Xenophon 's c. Plato 's dialogue The Republic c. According to Joseph SchumpeterPlato was the first known advocate of a credit theory of money that is, money as a unit of account for debt.

Aristotle 's Politics c. Of particular interest for economists, Plato provided a blueprint of a society based on common ownership of resources. Aristotle viewed this model as an oligarchical anathema. Though Aristotle did certainly advocate holding many source in common, he argued that not everything could be, simply because of the "wickedness of human Manaement.

For him there is a certain "art of acquisition" or "wealth-getting", but because it [ clarification needed ] is the same many people are obsessed with its accumulation, and "wealth-getting" for one's household is "necessary and honorable", while exchange on the retail trade for simple accumulation is "justly censured, for it is dishonorable". Aristotle discarded Plato's Managemsnt theory of money for metallismthe theory that money derives its value from the purchasing power of the commodity upon which it is based, and is only an "instrument", its sole purpose being a medium of exchange, which means on its own "it is worthless Thomas Aquinas — was an Italian theologian and economic writer. He taught in both Cologne and Parisand was part of a group of Catholic scholars known as the Schoolmenwho moved their enquiries beyond theology to philosophical and scientific debates.]