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Net Economics #Classical Economists and their work# Economic theory

 Net Economics #Classical Economists and their work# Economic theory Pls follow , like and share Classical economics, also known as classical political economy, is a school of economic thought that emerged in the late 18th and early 19th centuries. It laid the foundation for modern economics and was dominant until the late 19th century. Classical economists focused on understanding the mechanisms of economic growth, production, and distribution of goods and services in market economies significant contributions and the years in which they were active: Adam Smith (1723-1790): Major Work: "The Wealth of Nations" (1776) Contributions: Smith is often referred to as the father of economics. In "The Wealth of Nations," he introduced the concept of the invisible hand, arguing that individuals pursuing their own self-interest in a free market economy unintentionally promote the general welfare. He also discussed the division of labor, productivity, and the role of markets i

MECHANICAL AND INDUSTRIAL APPROACH AND CHANGES IN INDIA 1947 TILL DATE FOR UGC NET ,UPSC AND OTHER COMPETITIVE EXAMS

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MECHANICAL AND INDUSTRIAL APPROACH AND CHANGES IN INDIA 1947 TILL DATE FOR UGC NET ,UPSC AND OTHER COMPETITIVE EXAMS.         Industrial approach Govt of India A mechanical approach of a nation, now and then indicated IP, once in a while modern system, is its authority vital exertion to energize the advancement and development of all or part of the economy, frequently centered around all or part of the assembling area. The administration takes measures "planned for improving the seriousness and capacities of local firms and advancing auxiliary transformation."A nation's framework (counting transportation, broadcast communications and vitality industry) is a significant empowering influence of the more extensive economy thus frequently has a key job in IP. Mechanical strategies are interventionist estimates regular of blended economy nations. Numerous sorts of modern strategies contain regular components with different kinds of interventionist practices, for ex

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