Map of british columbia for It is useful to divide theories of profit by their appearance in economic theory and by their approach. We have, therefore, the classical, neoclassical, Marxian, Austrian, entrepreneurial or dynamic, and modern school of thought. There is overlap among the many theories and none is entirely exclusive of the others. The modern school is simply a synthesis with a number of distinct elements of former approaches. Classical profit. The classical theory is best expressed by Adam SMITH, David RICARDO, Nassau SENIOR, and James Mill. For these writers, profit is essentially the reward for capital. Map of british columbia 2016.