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Economic thought originated with the rise of the state. Classical economics, or the long-run model, was articulated by [[Adam Smith]] and has since fomented the rise of free-market capitalism in economic thought.<ref>http://cepa.newschool.edu/het/</ref>
Economic thought originated with the rise of the state. Classical economics, or the long-run model, was articulated by [[Adam Smith]] and has since fomented the rise of free-market capitalism in economic thought.<ref>http://cepa.newschool.edu/het/</ref>
==Quotes==
"Economics is haunted by more fallacies than any other study known to man. This is no accident. The inherent difficulties of the subject would be great enough in any case, but they are multiplied a thousandfold by a factor that is insignificant in, say, physics, mathematics or [[medicine]] – the special pleading of selfish interests." - Henry Hazlitt, Economics In One Lesson<ref>http://www.fee.org/library/detail/economics-in-one-lesson-pdf-doc-audio#axzz2KvMNXzEn</ref>
== See also ==
== See also ==
*[[Austrian School of Economics]]
*[[Paul Samuelson]]
*[[Paul Samuelson]]
*[[Chicago School of Economics]]
*[[Chicago School of Economics]]