ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

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On Certain Theoretical Issues in Classical Political Economy

 today, however, is the second implication of Stigler's claim which has a much wider and deeper currency: that Adam Smith is the theoretical progenitor of the later equilibrium theory based on the supply and demand market mechanism. In the current history of economic thought the notion widely prevails that Smith is the precursor of two very divergent streams of thought

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