Today’s events were part of the economic conference Egypt 2022, which will take place from October 23 to 25. The conference agenda featured numerous sessions and events spread across its three days, with the first track covering all economic policies.
In the study that follows, we discuss several works that lay the foundation for economics and the most important economic ideas now in use, specifically:
the level of global wealth
The Scottish economist Adam Smith’s most significant work, published in 1776 at the start of the Industrial Revolution, is regarded as one of the key elements in the development of economic thought. Smith advocated for capitalism, rejected government intervention in the economy, and stressed the importance of relying solely on supply and demand forces.
capital
It is a three-volume work that Karl Marx finished in 1867 and serves as the cornerstone of the Marxist political economy. Marx’s objective was to distinguish between the classical political economy and the economic trends on which the capitalist production pattern is founded.
utilitarianism
His utilitarian work contains the legal declaration of the usefulness of a mile.
Jeremy Benithm and James Mail, the father of Mail, are the key influences on the Mail account, despite the fact that this ideology has a long history.
John Stewart Mail believed in the philosophy of utilitarianism, which he described as the principle that carries “that the actions are correct in proportionality because they tend to enhance happiness, and they are wrong because it tends to produce the opposite of happiness.
Happiness is defined as “expected pleasure and the absence of pain; Unhappiness is defined as pain and the loss of pleasure. It is evident that not all qualities are valued by us as a means to happiness, and that occasionally we do not value them outside of our own selfish interests. However, Mile confirms that when thinking, even when we appreciate the virtues for selfish reasons, we are actually cherish as part of our happiness. The concept behind Bennham’s well-known formulation is called the principle of greatest happiness.
It argues that, within the confines of the mind, one must constantly act in a way that results in the maximum amount of overall happiness among all living things.
Economic Conference..3 Books for economics and major systems, such as the wealth of nations, were established.
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