CLASSICAL POLITICAL-ECONOMIC THEORIES: ECONOMIC LIBERALISM AND ITS ESSENCE

https://doi.org/10.5281/zenodo.14507210

Authors

  • Manazarova Gulnoz Sabirovna Jizzakh branch of the National University of Uzbekistan named after Mirzo Ulugbek Author

Keywords:

economic liberalism, classical political economy, free markets, private property, limited government, Adam Smith, invisible hand, David Ricardo, comparative advantage, John Stuart Mill, utilitarianism, market competition

Abstract

The development of classical political economy has played a significant role in shaping modern economic thought. Among the most influential theories is economic liberalism, which advocates for minimal government interference in markets and emphasizes individual freedoms. This paper explores the concept of economic liberalism, its historical development, key proponents, and its relevance in today's economic landscape. By examining classical economists such as Adam Smith, David Ricardo, and John Stuart Mill, this article aims to understand the core principles of economic liberalism and its implications for both economic theory and policy.

References

Samuelson, P.A., & Nordhaus, W.D. (2010). Economics. 19th Edition. McGraw-Hill Education.

Bhagwati, J. (2004). In Defense of Globalization. Oxford University Press.

North, D.C. (1990). Institutions, Institutional Change and Economic Performance. Cambridge University Press.

Stiglitz, J.E. (2002). Globalization and Its Discontents. W.W. Norton & Company.

Rodrik, D. (2001). The Global Governance of Trade: As if Development Really Mattered. United Nations Development Programme.

Acemoglu, D., & Robinson, J.A. (2012). Why Nations Fail: The Origins of Power, Prosperity, and Poverty. Crown Business.

UNCTAD (2020). World Investment Report. United Nations Conference on Trade and Development.

World Bank (2021). Doing Business 2021: Comparing Business Regulation in 190 Economies. The World Bank Group.

Daron Acemoglu, S. Johnson, J.A. Robinson (2005). The Rise of Europe: Atlantic Trade, Institutional Change, and Economic Growth. American Economic Review.

Downloads

Published

2024-12-06 — Updated on 2024-12-17

Issue

Vol. 1 No. 2 (2024): The main directions of socio economic development of New Uzbekistan: problems and solutions

Section

SECTION 1.

License

Creative Commons License

This work is licensed under a Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License.

How to Cite

Manazarova , G. (2024). CLASSICAL POLITICAL-ECONOMIC THEORIES: ECONOMIC LIBERALISM AND ITS ESSENCE: https://doi.org/10.5281/zenodo.14507210. International Scientific and Practical Conference, 1(2), 46-48. https://bestjournalup.com/index.php/ispc/article/view/754