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This course traces the development of economic theory from the Mercantilist writers through the contributions of J. S. Mill and Karl Marx. Topics covered include the development of value theory (especially labor theories of value), theories of economic growth and business cycles, the classical debate over the meaning and validity of Say's Law, and changing views regarding the appropriate role of government in the marketplace. In each case, the contributions of the authors considered are evaluated in light of our modern understanding of economic theory.

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