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 24
... determined by labor time embodied in it , then the rent or surplus would correspond to the surplus labor applied to its production . Importantly , Petty viewed wages as socially and historically determined subsistence , just as did the ...
... determined by labor time embodied in it , then the rent or surplus would correspond to the surplus labor applied to its production . Importantly , Petty viewed wages as socially and historically determined subsistence , just as did the ...
Page 25
... determined by socially determined subsistence , all hallmarks of the classical approach . Born : 1680 , County Kerry , Ireland Importance : Developed theories on agricultural economics that anticipated the Physiocrats Died : 1734 ...
... determined by socially determined subsistence , all hallmarks of the classical approach . Born : 1680 , County Kerry , Ireland Importance : Developed theories on agricultural economics that anticipated the Physiocrats Died : 1734 ...
Page 71
... determination of savings and investment . In the loanable funds approach , he determined that savings is a positive function of the rate of interest , and investment is a negative function of the rate of interest , and their unique ...
... determination of savings and investment . In the loanable funds approach , he determined that savings is a positive function of the rate of interest , and investment is a negative function of the rate of interest , and their unique ...
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