Classical
school
political
savings
Speaker
Leonova Anastasia Vitalievna
Faculty student
international relations, group
174702

England: late 17th century

Development
manufactories
Fast
industrial
rise
Banks,
joint stock
society,
exchanges
The era of the greats
inventions
New
sources
profits
Industrial
capital
The class has grown
hired
workers

New Economic School

1) What constitutes the wealth of the people?
↓
2) Study of the production sector
↓
3) analysis of the sphere of circulation, but starting from new
positions, proposing new principles
pricing
↓
4) a new explanation of the nature of money

The main differences between the classical school of economic theory and mercantilism:

The main differences between the classical school
economic theory from
mercantilism:
Subject of economic analysis
becomes not the sphere of circulation, but the sphere
production
The difference between intrinsic value and
price of the goods
The basis of the classical school is labor
theory of value

The main position of the classical school

The wealth of society is not created in
circulation, and in all spheres of material
production. Merchants do not produce any
product, but only deliver it to
various directions
William Petty

Basics of the labor theory of value:

The cost of the goods is “equal to the cost
amount of silver or gold that
at the same time another person can get,
transport it, mint it into a coin"
The source of value is specific labor
silver mining, the value of the product of labor
is determined as a result of its exchange for
precious metals

Adam Smith

Division of labor
Money and its functions
Theory of value
The principle of the "invisible hand"
Basic rules
taxation
Adam Smith

Division of labor

Specialization
↓
Multiple magnification
labor productivity

"The Great Wheel of Circulation"

Money is a special commodity, spontaneously
standing out from the mass of goods
Money is a tool that can
measure the value of goods

Theory of value

Labor costs for the production of goods
provide a basis for comparing them
cost.
The value of the goods is determined
not at the cost of individual labor
commodity producer, and average
costs for a given level of development
production.

The principle of the "invisible hand"

Minimal intervention in the economy
and market self-regulation
Economic liberalism
“...let everything go by itself,
naturally, without
coercion"

Basic tax rules:

Proportionality
Minimality
Certainty
Convenience for the payer

Basic principles of political economy

Research of the sphere of production (sphere
treatment-secondary)
Cost basis of prices
Cost category is the only one
original category of economic
analysis
Improving the well-being of the population
The role of money as a medium of exchange

Bibliography

World economic thought. Through the prism
centuries. In 5 volumes / ed. G.G. Fetisova, A.G.
Khudokormova. – M.: Mysl, 2005
Logacheva E. Economic theory. M, 2014
Economic theory course. Ed. 5 / ed.
M.N. Chepurina, E.A. Kiseleva – Kirov: 2005
Smith A. An Inquiry into Nature and Causes
wealth of nations. M., 2009
Electronic library of economics
literature: www.libertarium.ru.

Slide 2

2.4.3. The law of markets and the theory of “three factors of production” by J.B. Say. 2.4.1. Methodological principles and basic provisions of the theory of K. Marx. 2.4.2. Theories of T. Malthus. 2.4.4. Historical school in Germany - as an alternative to the classics.

Slide 3

K. Marx (1818-1883) K. Marx Lawyer by training, journalist and professional revolutionary “Marxism is too valuable to be left to Marxists alone” P. Samuelson

Slide 4

Historical conditions for the emergence of Marxism Victory of capitalism in Europe (40s of the 19th century) Spontaneous workers' revolts Changes in the class structure of society Main classes: bourgeoisie proletariat 1831 - revolt of Lyon weavers in France, 30-40s. - Chartist movement in England, 1840 - uprising of Silesian weavers in Germany.

Slide 5

Three sources of Marxism

Utopian socialism (Saint-Simon, Fourier, Owen) Classical bourgeois political economy (Smith and Ricardo) German philosophy (Hegel and Feuerbach)

Slide 6

Dialectical materialism Subject and method of Marxism Subject Method Analysis of the sphere of production, production relations Identification of the law of movement and death of capitalism. The study of relationships between people and the property relations that determine them.

Slide 7

“Sketches for a Critique of Political Economy” (1843) “The Holy Family, or Critique of Critical Criticism” (1844) “The Poverty of Philosophy” (1847) The main works of K. Marx and F. Engels “Towards a Critique of Political Economy” (1859) “Capital” (1867-1905) "Critique of the Gotha Program" (1875)

Slide 8

Analysis of the process of capital production Subject "The best thing in my book: the dual nature of labor, the study of surplus value regardless of its special forms." K. Marx Characteristics of “Capital” Volume I (1867)

Slide 9

Characteristics of “Capital” (Volume I)

The foundations of the labor theory of value are outlined. The process of production of surplus value is analyzed. The essence and basic forms of wages are characterized. The process of accumulation of capital is analyzed. The operation of the law of value is shown. The historical process of development of exchange and forms of value is analyzed. The basic economic law of capitalism, the law of surplus value, is formulated. K. Marx showed how the “dazzling” monetary form appeared and the “secret” of money was revealed. “The economic system of K. Marx is distinguished by its iron logic; if you accept the starting point, then you are forced to agree with the conceptual conclusions.” Böhm-Bawerk

Slide 10

Analysis of the process of circulation of capital Subject Characteristics of “Capital” Volume II (1885)

Slide 11

Characteristics of “Capital” (Volume II)

The reproduction of individual capital is analyzed; the conditions for the unimpeded realization of social capital are formulated; the problem of reproduction and circulation of all social capital is analyzed; the doctrine of fixed and working capital is being developed; the stages of capital movement are shown: monetary productive commodity; speed of capital turnover; Schemes of expanded reproduction - the first model of economic growth

Slide 12

Analysis of production and circulation taken as a whole Subject Characteristics of “Capital” Volume III (1894) “... in the influence of different capitals on each other, in competition and in the everyday consciousness of the agents of production themselves.” K. Marx

Slide 13

Characteristics of “Capital” (Volume III)

The problem of combining the action of the law of value with obtaining an equal rate of profit on capital is solved. A critique of the “triune formula” is given. The doctrine of absolute rent is created and the source of differential rent is clarified. The distribution of profit between groups of capitalists and the forms of its manifestation are examined. The concept of inter-industry competition is considered: entrepreneurial income, interest, rent. Profit is a creation of capital. Rent - land Wages are determined by labor

Slide 14

Characteristics of “Capital” Volume IV (1905) Provides a complete picture of the development of bourgeois political economy from its inception to its transformation into petty-bourgeois

Slide 15

Thomas Robert Malthus (1766-1834) T. Malthus Student of A. Smith, friend of D. Ricardo Defender of the interests of the agricultural aristocracy Priest, professor of the department of modern history and political economy of the College of the East India Company Born in England, in the family of a landowner 2.4.2. Theories of T. Malthus.

Slide 16

The main works of T. Malthus

“An Essay on the Law of Population in Connection with the Future Improvement of Society” (1798) “A Study on the Nature and Increase of Rent” (1815) “Principles of Political Economy” (1820)

Slide 17

Theoretical provisions of T. Malthus

Cost and distribution of income Implementation of the Law of Population Denied the equality of supply and demand, pointed to ways to increase demand Proponent of the theory of production costs The population is surplus compared to the goods of life it needs Productive labor Labor in the sphere of material production

Slide 18

J. Say Author of theories: subjective utility, three factors of production and sales. Economist and entrepreneur Born in Lyon, in the family of a merchant 2.4.3. The law of markets and the theory of “three factors of production” by J.B. Say. Commentator and systematizer of A. Smith's ideas Representative of the French bourgeoisie Member of the St. Petersburg Academy of Sciences Jean Baptiste Say (1767-1832)

Slide 19

Works by J.B. Say

“A Treatise of Political Economy, or a Simple Statement of the Way in which Wealth is Generated, Distributed, and Consumed” (1803) “Catechism of Political Economy” (1815) “Course of Political Economy” (6 volumes) (1828-1830)

Slide 20

2.4.3. The law of markets and the theory of “three factors of production” by J.B. Say. “Say’s Law” served as the basis for the neoclassical direction in political economy: Any sale of a product is at the same time a purchase, so the sales process must be carried out uninterrupted. “The theory of three factors”: Value (utility) is created - by labor, capital, land. Conclusions: There cannot be general overproduction, so it is necessary to expand production. The prosperity of one industry is favorable for the prosperity of others. He advocated free trade and condemned protectionism. He demanded a “cheap state” and its minimal intervention in the economy. Labor creates wages Capital creates profit Land creates rent

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Presentation on the topic: Classical political economy. General characteristics and stages of development. A. Smith and D. Ricardo

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Presentation on the topic: Classical political economy. General characteristics and stages of development. A. Smith and D. Ricardo

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Classical school: origin, development, macroeconomic theories In the 17th-18th centuries, capitalist relations established themselves in European countries, and this became the starting point for the onset of conditions for “full laissez faire” - economic liberalism. Since that time, a new theoretical school of economic thought has emerged, called classical political economy. After the coup d'etat of 1688, England turned into a constitutional monarchy; a compromise was finally reached between landowners and the bourgeoisie, but the mercantilist ideology of the English government had not yet been overcome: the state still protected monopolies, set import duties and export premiums, and regulated guild activities by limiting the number of workers in each profession. A new ideology was required to change economic policy. This task was undertaken by brilliant economists, the founders of classical political economy, the Englishman William Petty (1623-1687) and the Frenchman Pierre de Boisguillebert (1646-1714). These authors condemned the protectionist system that restrained freedom of enterprise; they emphasized the priority importance of liberal economic principles in creating national wealth in the sphere of material production.

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Representatives of the new school were also distinguished by the fact that they re-formulated the method and subject of studying economic theory. The sphere of production was put forward as the subject of study of the “classics”. The method of study and economic analysis has acquired new features through the introduction of the latest methodological techniques, which have quite successfully provided deep analytical results and a lesser degree of empiricism. Classical economists saw the task of economic science in studying not actually occurring events, but only those forces that in some, not entirely understandable way, predetermined the emergence of real phenomena. Classical economists emphasized that the conclusions of economic science are ultimately based on postulates drawn equally from observable “laws of production” and subjective introspection. K. Marx believed that the “classics”, in the works of their best authors A. Smith and D. Ricardo, did not allow slipping on the surface of economic phenomena at all. According to him, “the classical school explored the production relations of bourgeois society.” Classical political economy in its teaching explored the analysis of the conditions for free economic activity only in the capitalist system.

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In the development of classical political economy, four main stages can be distinguished. First stage. It begins at the turn of the 17th - beginning of the 18th centuries, when in England, thanks to the work of W. Petty and in France - P. Boisguillebert, signs and beginnings of a new, alternative to mercantilism, doctrine began to form, which would later be called classical political economy. In their works, the first attempts were made at costly interpretations of the cost of goods and services (by taking into account the amount of working time and labor spent in the production process). They emphasized the priority importance of liberal economic principles in the creation of national (non-monetary) wealth in the sphere of material production.

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Second stage. This period is entirely attached to the name and work of the great economist Adam Smith, whose brilliant creations became the most significant achievements of economic science throughout the last third of the 18th century. Modern concepts about a product, its properties, money, wages, profit, capital, etc. are largely based on his theoretical research. The third stage. The chronological framework of this stage covers the entire first half of the 19th century, during which in developed countries, especially in England and France, there was a transition from manufacturing production to plants and factories, i.e. to machine, industrial production. During this period, such economists as D. Ricardo, T. Malthus, N. Senior, J.B. Say, F. Bastiat, etc., each of these authors, following the “father” of classical political economy Adam Smith, left very noticeable traces in the history of economic thought. Fourth stage. The last period of classical political economy falls on the second half of the 19th century. and is due to the works of J. S. Mill and K. Marx, who took upon themselves the responsibility of codifying the best achievements of the “classical school”. At the fourth stage, the formation of a new, more progressive direction of economic thought—“neoclassical economic theory”—has already begun. However, the popularity of the theoretical views of the “classics” remained quite impressive, because they sympathized with the working class and were turned to socialism and reforms.

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A. Smith and D. Ricardo The merit of Adam Smith in the development of classical political economy lies in the fact that he codified it and formed the basis for subsequent generations. Back in The Theory of Moral Sentiments, he introduced the famous principle of the “invisible hand” and continued to develop his ideas in “An Inquiry into the Nature and Causes of the Wealth of Nations.” Here Smith devoted himself entirely to studying the development of economics in society and ways to improve its well-being, while applying completely new methodological techniques of analysis and supporting the concept of economic liberalism. He recognized the importance of laws in force in a market economy and advocated free competition. He argued that the fate of each economic entity is predetermined, and frugality is the main factor in increasing profits. Key ideas: theory of competition, principles of market regulation, labor theory of value and the study of factors of production, study of money as a medium of exchange, the law of inverse proportionality between wages and profits David Ricardo: labor theory of value, theory of wages, theory of capital, theory of profit, theory money. Ricardo believed that value does not consist of wages, profits and rent, but is decomposed into them or - the source of rent is not the special generosity of nature, but the labor applied.

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The emergence of liberal reformism and the emergence of socialism The representative of the emerging liberal reformism was Jean Baptiste Say (1767-1832). Say's main work was “Treatise of Political Economy,” which had 3 sections: production, distribution and consumption. Two main ideas in the works of J.B. Seya: The theory of production factors: the three factors of production - labor, capital and nature (land) - correspond to three basic incomes: labor creates wages, capital - interest, land - rent. The sum of these three incomes determines the value of the product, and each of the owners of a particular factor receives remuneration or income created by the corresponding factor of production as a certain share of the value of the product. Thus, production factors are considered by Say as equivalent sources of value. The three-factor theory played an important role in the development of economic science. From it, factor analysis of production (production function method) was subsequently developed, the meaning of which is to find a profitable, optimal combination of production factors for certain competitive cases.

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Say's identity or the law of the market associated with the problem of crises of overproduction. Periodic crises of overproduction, accompanied by depression, which then turns into a new rise, began to be discovered and then regularly repeated starting from the 20s of the 19th century. Say's law of markets, which states that production is always equal to consumption, excluded the possibility of a general overproduction of the commodity mass. A crisis of overproduction, according to Say's law, occurs not because the total quantity of goods on the market exceeds the total quantity of money, but because some goods are produced less than needed. The resulting structural discrepancy is inevitably leveled out as a result of the movement of goods and price combinations. Say's postulate, which is that production always generates demand, products are bought for products, despite subsequent criticism, remains a fundamental postulate of the theory of the liberal direction in economics at the present time.

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John Stuart Mill (1806-1873) was an English economist, a representative of the late classics, who summarized the main achievements of this school. According to Mill, in production there are irreducible, immutable laws, the appearance of which can be compared with the actions of the laws of nature. Another type of law operates in the sphere of distribution. These laws can be changed by people in accordance with the requirements of justice and the common good. Therefore, the laws of distribution must be considered separately from the laws of production. Mill also explored the theory of exchange. The theory of production is reduced, as in all classics, to the study of three factors, each of which increases in accordance with its own specific laws.

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The law of increasing labor is the law of increasing population, unlimited by nature. But the development of culture, diverse needs, and comfort of life is gradually becoming a limiter on population growth. Poverty and fear of poverty are also powerful factors limiting population growth. The growth of capital depends on the thriftiness of the population. The main incentive here is a high rate of profit, but much depends on the character of the person and the traditions of society. If the traditional tendency to save and accumulate is strong (as in England and Holland), then low profits and interest are sufficient to stimulate savings. Thus, writes J. Mill, the second condition for the growth of capital is amenable to increase, which does not have any specific limits. The situation is different with the third factor of production - land. Limited land area and soil fertility set limits to increased production. Here J. Mill refers to the law of diminishing returns from investments of capital and labor in land, formulated in the works of D. Ricardo. However, J. Mill also sees counter-trends that oppose the law of diminishing returns from investments in land. This is the progress of knowledge and technology, the “process of civilization.”

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Theory of value. J. Mill divides all goods into three groups. Products whose quantity cannot be increased; the value of these goods is determined by their usefulness and rarity. Goods, the quantity of which can be increased through the application of labor and capital at the same cost per unit of goods; the value of these goods is determined by the cost of production. Goods, the quantity of which can be increased through the application of labor and capital, but not with fixed, but with increasing costs per unit of goods. These are the products of agriculture and mining industries. The cost and price of these goods are determined by the marginal (maximum) costs of their production.

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Utopian Socialists Socialism is represented by the works of Thomas More, Robert Owen, Claude Henri de Rouvroy Saint-Sismondi, Francois Marie Charles Fourier. They criticized capitalism, demanded the abolition of private property, the reorganization of production, distribution, consumption and the elimination of the opposition between mental and physical labor. The most famous work of T. More was “The Golden Book, as useful as it is funny, about the best structure of the state and the new structure of utopia.” The first part provides a critique of Mohr’s contemporary social order, the second gives a system of an ideal social system. R. Owen believed that one cannot reproach a person for his ignorance and other vices, since a person is a product of the environment and his shortcomings are a consequence of the vices of the existing society. He was the founder of factory legislation. He shortened the working day at the factory he managed, increased wages, changed living conditions, organized a system of educational institutions for children and adults.. Economic crisis of 1815-1817. gave him a critical attitude towards the capitalist mode of production. R. Owen put forward a plan for organizing labor communes, settlements - communities without private property, clergy and authorities. He advocated the creation of a communist society without revolutionary ideas.

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C. Saint-Simon promoted the ideas of equality, fraternity and freedom. Saint-Simon paid great attention to the debunking of the capitalist system, predicted its inevitable death, and proposed a program for creating a fair social system based on the principles of association. He proposed uniting mercenaries and employers (the bourgeoisie) into a single group of industrialists. According to Saint-Simon, every social system is a step forward in history. The history of development passes through 3 phases, respectively: theological - the period of the dominance of religion (covers slave-owning and feudal societies), metaphysical - the period of the collapse of the theological and feudal systems, positive - the future social system as a natural result of previous history. The future was to be based on the scientific and planned organization of large-scale industry while maintaining private property. C. Fourier was interested in philosophy, tried to explain the problem of happiness and combine the happiness of one and many. He was interested in the organization of labor, assessing its effectiveness by the degree of freedom of labor. In his opinion, bourgeois society is so contradictory, so inhumane that it inevitably - the sooner the better - must be eliminated and replaced by a society of social harmony, prepared by the entire previous history.

Classical political economy
this is the direction in the development of economic thought,
based on the principles of non-interference by the state in
economic practice that originated during the period
approval of the market economy as
the dominant way of managing.

1. Gradual breakdown of feudal
relations (landlessness
peasants)
2. Bourgeois revolution at its head
with Oliver Cromwell (15991658) and what followed
turning England into
constitutional monarchy.
3. A compromise has been reached between
landowners and the bourgeoisie.
4. Decisive role in politics
economic
interests of the bourgeoisie.
Causes
classical
political economy in
England

English statistician and
economist, William Petty
(1623-1687)
These authors condemned
protectionist system
which held back freedom
entrepreneurship. by them
priority was emphasized
the meaning of liberal
principles of management in
creation of a national
wealth in the field
material production.
French economist Pierre de
Boisguillebert (1646-1714)

Stages of evolution of classical political economy
The first stage (from the end of the 17th century to the beginning of the second half of the 18th century) – justification of ideas
free trade and entrepreneurship: economic teachings of W. Petty and P.
Boisguillebert. Peculiarities of interpretations of the categories wealth, money, value,
income.
Wealth, according to W.
Petty, form not only
precious metals and stones,
including money, but also land,
houses, ships, all goods.
So wealth
is being created in the field
material production,
(not in circulation).
W. Petty didn't count the money
the wealth of the country and wrote,
that we should not accumulate them,
and put it into circulation.
The cost was determined
labor expended, and
namely, by labor,
spent on production
silver as money
material.

The second stage (the period of the last third of the 18th century) - A. Smith:
the formation of political economy as a science. Teachings of A. Smith and
his work "An Inquiry into the Nature and Causes of Wealth
peoples."
Economic teachings of Adam Smith (1723 -1790)
Key ideas:
1. The source of wealth is the product of the total labor of everyone
spheres of production, representatives of various types of labor
and professions (“the annual work of nations”).
2. A prerequisite for the growth of wealth is the division of labor.
3. Labor theory of value - “labor is
the only universal, as well as the only accurate
measure of value." Different types of work are equivalent.
4.The concept of the “invisible hand”
5. The state plays the role of a “night watchman”, and not
regulator of economic processes.
Prerequisites for the second stage:
The rapid development of capitalism due to
foreign trade, government
loans, development of colonies.
Creation of large centralized
manufactures and capitalist farms.
The process continues
landlessness among peasants, growing
number of hired workers.
England is turning into an industrial-agrarian country.

Disadvantages of A. Smith's teaching
1. I did not understand the essence of money as a universal equivalent, that money
act as a social form of wealth. Money only
medium of exchange, fleeting intermediary facilitating exchange
goods.
2.The price of the goods did not include the transferred cost. Considering
that capital accumulation is the transformation of profit into
additional salary, saw the benefit of workers in accumulation
capital.
3.Linked the concept of “productive” and “unproductive”
labor with the concept of capital.
4. “Productive” labor is paid from profits on capital,
“unproductive” labor does not create profit.

The third stage (first half of the 19th century) - the development of political economy in the works
economists D. Ricardo, J. B. Say, T. R. Malthus. Theories of value, capital,
income, reproduction. “Iron” law of wages D. Ricardo.
The teachings of J.B. Say. Theory of three factors of production, theory of income, value.
J.B. Say's law of markets, or the concept of crisis-free economic growth.
The teachings of T. R. Malthus. Population theory.
Distinguishes between
cost and
material
wealth. Premise
increasing wealth -
productivity growth
labor. Cost depends
not from abundance, but from
difficulty or ease
production.
The population is growing in
geometric
progression, and means
existence - in
arithmetic due to
law of diminishing
soil fertility
Overproduction
goods and economic
crises are impossible.

What Smith and Ricardo have in common:
1. There are three main classes in society
(landowners, entrepreneurs, workers) and
three types of income: rent, profit, wages
pay.
2. Supporters of the labor theory of value
3. Supporters of economic liberalism
David Ricardo (1772 -1823)

The fourth stage - the final stage of the classical direction (other half of the 19th century) was marked
the works of J.S. Mill and K. Marx. J.S. Mill (1806-1873) in his work "Principles of Political Economy",
1848, systematized the economic ideas of the classical school and substantiated the requirements of the English
liberal bourgeoisie to social reformism.
J.S.Mill
1873)
(1806-
Karl Marx (1818-1883)

The main merit of A. Smith and D. Ricardo
Presented the processes
happening in the economy in
in the most general form as
sphere of interrelated laws and
categories.
From searching for external forces or
appeals to the authorities' reason
turned the analysis into the sphere of identifying
internal reasons underlying
basis of market functioning
economics

The most important features of the classical school:
1. The concept of economic man.
2.Equality of the contracting parties.
3.Full awareness
4. Fluidity of resources.
5.The growth of the working population closely depends on the total fund
wages.
6. Absolutization of profit as the goal of entrepreneurship.
7. High mobility of wage levels.
8. The main thing is capital accumulation.
9. Special attitude to land as a factor of production.
10. Unconditional economic liberalism.

Disadvantages of classical political economy
The disadvantages of classical political economy were the underestimation of the role of the state in
economics, in absolute terms of its provisions and conclusions.
Within the framework of this doctrine, the economic opposition of classes was formulated
bourgeois society, which allowed some Ricardian socialists (T. Godskin, W.
Thompson et al.) draw revolutionary conclusions. At the beginning of the 19th century. economic theory
characterized by the emergence of new directions and schools within both classical
political economy and proletarian political economy. During this period there was
industrial revolution based on new productive forces (steam engine, mass
production, machine tool industry, etc.), the industrial proletariat, trade unions appeared,
The first crises of overproduction occurred.

political economy”, originated in the second half of the 17th century. and existed until the end of the 19th century. The time of its existence can be divided into three stages.

The first stage lasted from the end of the 17th to the end of the 18th century. It can be called the period of origin, and its representatives - the predecessors of classical political economy. Their work was not widely known because mercantilism continued to be the dominant economic concept. Only in the second half of the 18th century. The French school of physiocrats became quite famous, but it had unconditional dominance only within its own country. The second stage, from the end of the 18th to the middle of the 19th century, represents the complete dominance of classical political economy. The starting point here can be considered the work of the English economist A. Smith, “An Inquiry into the Nature and Causes of the Wealth of Nations” (1776). From the beginning of the 19th century. Economic science, represented by classical political economy, was recognized as an independent science and began to be taught in universities as a separate course. At the same time, during the second period, the creative development of classical political economy continued - new theoretical positions were put forward, and within the framework of classical political economy, separate trends appeared, differing both in class sympathies and theoretical features and debating among themselves. The last major theorists of the second stage were J.S. Mill, whose final work “Principles of Political Economy” was published in 1848, and K. Marx, whose draft “Capital” was written in the late 1850s. The third, final stage of classical political economy, which lasted from the middle to the end of the 19th century, can, like the first, be called transitional. On the one hand, the dominance of classical political economy remained, relevant courses were taught at universities, but almost no new theoretical ideas were put forward. Abroad of the 19th century Only Marxism stepped over, which, relying on the methodological principles of classical political economy, began to analyze new phenomena that arose in the capitalist economy at the end of the 19th - beginning of the 20th centuries.