Too Long; Didn't Read
Economic activities include the production, distribution, exchange, and consumption of materials. Modern economics came into being in 1500, when mercantilism was the mainstream doctrine advocating centralized management by the government, export promotion and foreign colonization to achieve economic prosperity and the increase of national power. The Classical School advocates self-interested economic behaviors and opposes government's economic intervention. The Chicago School (New Classicism) and Marginalism are revision and improvement of this theory in light of economic development in light light.