The Little Book of Big Ideas: Economics contains the profiles and theories of 50 of the world's most eminent economists. From mercantilists through Keynesians to modern economic thought, this book gets behind 50 of the greatest minds and 10 core theories. Covering Hume, Smith and Marx, succinct biographies provide an insight into economists' personalities and reveal the outstanding contribution that each has made to this pervasive discipline. Essential concepts and themes have been expertly selected and complex issues are explained in their social, political and cultural context.
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Petty distinguished between the 'natural' price and the 'market' price of goods.
The natural price of an item was determined by the amount of 'socially necessary'
labour time required for its production. The market price could deviate from the ...
Wicksell's theory of the cumulative process begins with the distinction between
the natural rate of interest - the real return on capital - and the market rate of
interest - the rate charged for bank borrowing. If the natural rate is higher than the
Friedman's notion of the 'natural rate of unemployment' became an important
concept. The 'natural rate' was the minimum rate of unemployment consistent
with stable prices. Attempting to reduce unemployment beyond the natural rate
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EconomicsUser Review - airastotool - Overstock.com
Great read for perhaps a highschooler or college student interested in the field of economics. Gives a quick snapshot of many economists including their backgrounds and specialties within the field ... Read full review
Introduction by Professor James Rollo
Joan Robinson 74 Joseph E Stiglitz
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