Introduction

Economists not only think about the economy and society, but also influence and shape it by participating in policy-making. Thus, the nature of their theories has direct consequences for large numbers of people. Many of the theories discussed in the history of economic thought and economic philosophy arose from policy debates. For example, David Ricardo formulated his theory of Comparative Advantage while debating the repeal of England's restrictive trade laws, to argue that free trade would lead to growth for the British economy.