ABSTRACT

Free market capitalist economics is arguably the most powerful tool ever used by civilization. As a system for allocating resources, labor, finance, and taxation, for determining the production, distribution, and consumption of wealth, and for directing decisions about virtually every aspect of our lives together, classical economics reigns supreme. Its laws are so pervasive that we take them largely for granted, like the laws of motion and gravity — which, incidentally, were codified by Sir Isaac Newton at the beginning of the Scientific Revolution, only a few decades before Adam Smith codified the major principles that still underlie economics today.