How did the economy

For the first time, the ancient Greek philosophers attempted to formulate the principles of economic theory. Plato and Aristotle, as well as Xenophon, talked about the principle of exchanging one commodity for another or for money as the basis of the economy. Also in the basis of human activity was the principle of utility.
Plato devoted quite a lot of space in his work on the ideal state to its economic functioning. So, the state of Plato was to be based on slavery. Roman thinkers continued the Greek tradition. However, they began to have ideas about the possibility of an alternative economic system, for example, without slavery and with free labor.
Separate economic ideas began to form in science only in modern times. At the beginning of the XVII century, the first economic doctrine emerged, based on the study of the real economy - mercantilism. The policy of mercantilism was guided by many political figures of Western Europe of the XVII century.This doctrine emphasized that the wealth of the state is ensured and maintained by a positive trade balance — as long as exports exceed imports, a significant inflow of capital into the country is possible, which ensures welfare. However, it should be noted the narrowness of the theory of mercantilism, as it took into account only trade, forgetting about industrial and agricultural production.
The development of economics as a science continued in the 18th century. Thanks to such scientists as Francois Quesnay, economics as a science has become much more extensive, having included in the subject of study not only exchange, but also industrial labor. But it was only in the 19th century that the science of economics became truly multifactorial, including the study of the specifics of the exchange, production of goods and services, working conditions and its cost, and state policy, which could have a serious impact on economic processes through the introduction of taxes and customs .

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