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The first school of thought, structuralism, was advocated by the founder of the first psychology lab, Wilhelm Wundt. Almost immediately, other theories began to emerge and vie for dominance in psychology.
Present day dominant school of economic thought built on the foundation laid by the 18th century (classical) theories of Adam Smith (1723-1790) and David Ricardo (1772-1823), and refined by the 19th and 20th century theories of Alfred Marshall (1842-1924), Vilfredo Pareto (1848-1923), John Clark (1847-1938), and Irving Fisher (1867-1947).