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PLACE OF CANTILLON THEORIES IN ECONOMIC SCIENCES
Abstract
RESEARCH OBJECTIVE: “Essai sur la Nature du Commerce en Général”, published in 1730, became the basis for formulating economic theories of Hume, Smith and the physiocrats, as well as for the works of Knight and Mises. The aim of the article is to present the economic issues touch on in the essay against the background of the review of the relevant literature in the field of economic theory, as well as the possibility of transforming economic models into practical structures shaping the economic views of future generations.
THE RESEARCH PROBLEM AND METHODS: Theoretical issues were confronted with economic knowledge among sample N=600 in 2016-2020. The chi-square (χ2) test was used to test the existence of statistical significance between gender and the understanding of the importance of economic issues.
THE PROCESS OF ARGUMENTATION: The sample has shown lack of basic knowledge in the economic filed in the aspect of university economic courses. At the same time, only those surveyed who are active on the labour market as entrepreneurs, perceive the need to raise qualifications and make complete knowledge in the examined subject.
RESEARCH RESULTS: Cantillon in his essay focuses on the "economic aspects of human action”. The results of studies conducted at the university have shown, that their basic knowledge in the field of economic sciences is at an unsatisfactory level.
CONCLUSION, INNOVATIONS AND RECOMENDATIONS: Contemporary economics omits the entrepreneur in economic models and in the relevant literature. However, it is a key link, directly affecting both, micro and macroeconomic indicators. The connections and mutual influences described by Cantillon are favourable to thoroughly understanding of economic phenomena in real, economies world. This knowledge should be disseminated not only for better economic estimation, but also for a better understanding of events occurring in the world and the results of their implications.
Keywords
Economics ; Cantillon ; Smith ; Theory of economics ; Economic models
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