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PBHS Economists

NAQT Economists

QuestionAnswer
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
Created by: gkarlish