What do you mean by the term classical economics?

Business & Management
#1

Classical refers to the The tradition of economics that began with Adam Smith, and continued
with other theorists including David Ricardo, Thomas Malthus, Jean-Baptiste Say, and others.
The classical economists wrote in the early years of capitalism, and they uniformly celebrated
the productive, innovative actions of the new class of industrial capitalists. They focused on the
dynamic economic and political development of capitalism, analyzed economics in class terms,
and advocated the labour theory of valu