|Requires||Free Trade Doctrine|
|Building Needed||Modern University|
An attempt to understand, explore, and explain economic growth and development.
Classical economics seeks to change the way a nation's wealth is considered. No longer is the amount of money in a king's treasury the sole measurement of national wealth. The earnings of the populace are now taken into account. With this step forward people leave feudal society and stop forward as individuals seeking their own gains for their own benefit.
Classical economics was eventually superseded. Its influence does still linger however, especially within the modern school of thought known as "new classical economics."
Historically, the school of classical economics was originally created by Scottish philosopher Adam Smith, but David Ricardo is leading the school forward in its belief and methods. His debates on such topics as the Corn Laws with Thomas Malthus are giving theorists much to consider. One of the key questions the theory seeks to answer is: how can a society be built upon a system where man seeks to further only his own interests?
Classical Economics is one of the last enlightenment technologies researched, and generates an unusually large increase in wealth at the cost of a small increase in unhappiness and unrest.