ABSTRACT
Economics is a department of Social Philosophy. Nineteenth century economics began with the philosophies of the eighteenth century which culminated in the French Revolution of twenty-five years, followed by fifteen years of reaction and recovery. The original of the classical economists, Adam Smith, followed John Locke’s divine beneficence, earthly abundance and labor theory of value, but separated economics and private property from the politicians who had taken control of Locke’s constitutional government. World-wide division of labor, voluntary agreements between equal individuals the world over, were the economic details of this cosmopolitan philosophy. The political organizations became the economic instruments of sovereignty, apportioning the legal rights, duties, liberties and exposures to individuals and associations in the economic field. There are the economic foundations of twentieth century social philosophies which generate the theories and hypotheses of twentieth century economics and the social sciences.
