|Research Points Needed||80|
|Building Needed||Tax Office|
An attempt to understand, explore and explain economic growth and development.
Classical economics seeks to change the way a nation’s wealth is considered. No longer is the amount of money in a king’s treasury the sole measurement of national wealth. The earnings of the populace are now taken into account. With this step forward people leave feudal society and step forward as individuals seeking their own gains for their own benefit.
Classical economics was eventually superseded. Its influence does still linger however, especially within the modern school of thought known as “new classical economics.”
Historically, the school of classical economics was originally created by Scottish philosopher Adam Smith, but David Ricardo is leading the school forward in its beliefs and methods. His debates on such topics as the Corn Laws with Thomas Malthus are giving theorists much to consider. One of the key questions the theory seeks to answer is: how can a society be built upon a system where man seeks to further only his own interests.
Classical Economics generates a small increase in wealth while slightly decreasing public happiness. It is best researched when a faction's major source of income is taxation, and when most of the regions it owns has controllable public order.
While the benefits it directly generates are small, Classical Economics unlocks the ability to upgrade markets into merchant houses, significantly increasing the region wealth as well as the town wealth of regions with commercial slots.
When playing as Prussia in the singleplayer Europe Campaign, a mission is granted early in the campaign which grants 1,000 gold upon completing research for Classical Economics, further giving Prussia an incentive to research this technology.
Great Britain begins the Europe Campaign with this technology already researched.