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PBHS Economists
NAQT Economists
| Question | Answer |
|---|---|
| Scottish philosopher and economist | Adam Smith |
| "An Inquiry into the nature and causes of the Wealth of Nations" 1776 | Adam Smith |
| Created the "invisible hand" | Adam Smith |
| His work founded the Classical school of economics | Adam Smith |
| American economist who advocated monetarism | Milton Friedman |
| "A Monetary History of the United States, 1867-1960" | Milton FRIEDMAN |
| American economist strongly associated with "laissez-faire" government policy | Milton FRIEDMAN |
| German economist, historian, and social philosopher; theory of surplus value and economic materialism | Karl Marx |
| Co-wrote Das Kapital with Engels | Karl MARX |
| "The General Theory of Employment, Interest, and Money" | John Maynard KEYNES |
| English; promoted deficit spending to deal with prolonged recession | John Maynard KEYNES |
| "Principles of Political Economy and Taxation" | RICARDO |
| English; "iron law of wages" (wages should be at a minimum--held low--static and unchanging) | David RICARDO |
| Canadian; "The Affluent Society" "The New Industrial State" | John Kenneth GALBRAITH |
| French economist; Physiocrats; land is ultimate source of all wealth; | Francois QUESNAY |
| English; "Principles of Economics" consumer surplus, demand curves, elasticity...fundamental concepts in micro- and macroeconomics | Marshall |
| American; "The Theory of the Leisure Class" | Thorstein VEBLEN |
| "conspicuous consumption"; animal kingdom comparison of the ostentation of the rich | Veblen |
| British; extended ideas of Ricardo in "Essays on some Unsettled Questions of Political Economy" | Mill |
| necessity of private property in "Principles of Political Economy" | John Stuart MILL |
| Utilitarianism | Mill |
| "An Essay on the Principle of Population" | Thomas Malthus |