EconomicsEconomic ideas and trends play a crucial yet little-understood role in the development of the world in which we live and are therefore vital to understanding our society today. From mercantilists through Keynesians to modern economic thought, this handbook covers 50 of the greatest minds and 10 core theories. Including Hume, Smith, Marx, and von Mises, succinct biographies reach behind the personalities and reveal the outstanding contribution each has made to this internationally important and pervasive discipline. The essential concepts and themes have been expertly selected and the complex issues clearly explained within a social, political, and cultural context, allowing the rich history of economic thought to be told and the motivations behind its phenomenal global development to be understood. |
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Page 23
... concepts central to classical political economy , began with the works of Sir William Petty . Born : 1623 , Romsey , Hampshire , England Importance : Developed concept of surplus which became the mainstay of classical theorists Died ...
... concepts central to classical political economy , began with the works of Sir William Petty . Born : 1623 , Romsey , Hampshire , England Importance : Developed concept of surplus which became the mainstay of classical theorists Died ...
Page 48
... concepts in economics is a defining principle of Another key shift in emphasis demonstrated in Jevons ' work is the switch from a focus on production to a focus on exchange . This development was related to a move from " political ...
... concepts in economics is a defining principle of Another key shift in emphasis demonstrated in Jevons ' work is the switch from a focus on production to a focus on exchange . This development was related to a move from " political ...
Page 49
... concept borrowed from Newtonian physics . The consumer market is in equilibrium when supply of goods in the market equals demand for them . Equilibrium can exist in a particular market , as well as in all markets at the same time . The ...
... concept borrowed from Newtonian physics . The consumer market is in equilibrium when supply of goods in the market equals demand for them . Equilibrium can exist in a particular market , as well as in all markets at the same time . The ...
Contents
William Petty 22 Richard Cantillon | 24 |
GROWTH THEORY | 69 |
Abba Lerner 80 Nicholas Kaldor | 82 |
Copyright | |
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accumulation Adam Smith aggregate demand agriculture anarchism argued Austrian Austrian School banking became behavior Born business cycle Cantillon capital capitalist chartal chartalist classical political economy commodity concept consumers consumption contributions currency debt deficit determined Died distribution economic activity economic analysis economic growth economic theory economists effect England Importance exchange factors firms fiscal framework full employment gender global government intervention Greenspan Hayek historical human Human Development Index ideas imperfect income individual industrial inequality inflation innovation institutions interest rates investment Jevons Kaldor Keynes Keynes's Keynesian Khaldun labor Leontief macroeconomics Malthus marginal utility Marx Mercantilists monetary policy money supply neoclassical economics Nobel Prize output and employment partial equilibrium perfect competition Physiocrats population growth production profit result Ricardo Say's Law School of Economics Schumpeter sector social costs society spending Sraffa Stagflation Stiglitz subsistence surplus technological trade Veblen wage Walras wealth welfare economics workers