ABSTRACT
There is a general consensus that Adam Smith is the founder of economics. Given the fact that Smith knew Newton’s works, he probably tried to follow him as far as he could in the presentation of his findings in economics.
The main purpose of David Ricardo’s research was to determine the laws which regulate distribution, which he considered the principal problem in economics.
John Stuart Mill introduced two of the traditional tools in economic analysis: the homo economicus assumption and the ceteris paribus clause.
For Karl Marx, the totality of relations of production is the primary object of research. Specifically, the relations of production under capitalism. For him, the correct method of political economy is the path on which abstract determinations lead towards a reproduction of the concrete by way of thought.
Classical economists were interested in finding general laws which could explain the functioning of the economy.
