Final answer:
Adam Smith, Thomas Malthus, and David Ricardo's economic philosophies form classical economics, focusing on market operations and government policy roles, with land as a prime resource for growth before the industrial and energy revolutions.
Step-by-step explanation:
The economic philosophies of Adam Smith, Thomas Malthus, and David Ricardo form the foundation of classical economics. Adam Smith is well-known for his laissez-faire approach, advocating for minimal government intervention in economic affairs and believing in the "invisible hand" of the free market. Smith's ideas, encapsulated in his seminal work, The Wealth of Nations, suggest that individuals seeking their own self-interest would naturally work towards the benefit of the entire society through market operations. Thomas Malthus, on the other hand, is famous for his dismal view of population growth outpacing the supply of food, which would ultimately limit economic growth. Lastly, David Ricardo contributed to classical economics with his theory of comparative advantage, arguing that nations should specialize in producing goods where they have a relative efficiency and trade with one another to boost overall economic welfare.
This classical view sees growth as temporally limited by physical resources such as land in the pre-industrial age, not considering the future potentials of technological advancements or fossil fuels. The focus on land was due to its centrality in an agrarian society where land was seen as the primary source of production. The classical economists did not expect the massive changes that energy sources such as coal and oil would bring to economic growth and development.
In sum, the economic theories of Smith, Malthus, and Ricardo explore the dynamics of supply, demand, growth, productivity, and distribution, which have greatly influenced the understanding of market operations and government policy's role within an economy. However, each philosopher provided a unique perspective on how those economic forces interacted within society.