Excerpt from History of Economics: Or Economics as a Factor in the Making of History
The Greeks had no conception of political economy as a science. They did, however, busy themselves with certain facts and data that constitute the material of this science, namely, with the production and distribu tion of wealth. They raised crops, breeded cattle, ex tracted the precious metals, traded with one another and with foreign nations; but they did all this without hav ing any established formulae or principles, and without any sight of those tendencies that constitute the laws of political economy.
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