Classical economics is perceived to have started from 1776 based on dam Smith’s Wealth of Nations. The ideologies that were professed in the Wealth of Nations were attributed to 200 years prior to the 1776. These prior periods can be divided into two parts. It is the early pre-classical period from about 800 BC to 1500 and a pre-classical period from 1500 to 1776. The pre-classical period is divided into four main periods. It is the Eastern economic thought that ranged between 725-645 BC, Greek thought 800 to 320 BC, Arab-Islamic thought 1058-1111 and the economic thought that ranged from 1225-1274 that is based on the scholastics. One of the notable theories that were adhered was a national economic policy that was devised based on the trade of nation. The theory was the maximization of the accumulation of gold and silver precious metals. This was a dominant ideology that was adhered between 16th to 18th centuries. For this policy, the nations tried to create a monopolization of the markets, banned export, forbidding of trade and limiting of wages. There are some important elements that are still in practice in the current times. However, the mercantilist theories are enabled in the modern economics.