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YQK: Economists

QuestionAnswer
Scottish philosopher and economist. He is basically remembered as the author of Wealth of Nations (1776) and as the creator of the metaphor of the "invisible hand." This work more-or-less single-handedly founded the Classical school of economics. Adam Smith
20th Century US economist. Conservative thinker strongly associated with the ideals of laissez-faire government policy. Chicago school of econ. Milton Friedman
His principal contribution to economic thought was extending the labor theory of value to its logical conclusion, his theory of surplus value. Wrote Das Kapital and The Communist Manifesto Karl Marx
English economist who argued that the best way to deal with prolonged recessions was deficit spending. John Maynard Keynes "Keynsian Economics"
Best known for Principles of Political Economy & Taxation, which introduced modern notions of comparative advantage and its theoretical justification for unfettered international trade. He also put forth the iron law of wages. David Ricardo
Canadian economist. His liberal popular writings like The Affluent Society and The New Industrial State (with their emphasis on public service and the limitations of the marketplace) ensure his coming up again and again. John Kenneth Galbraith
French economist. Undisputed leader of the Physiocrats, the first systematic school of economic thought. Among its tenets were the economic and moral righteousness of laissez-faire policies and the notion that land was the ultimate source of all wealth. Francois Quesnay
English economist. Magnum opus was Principles of Economics, which introduced the notions of consumer surplus, quasi-rent, demand curves, and elasticity, all fundamental concepts in introductory macro- and microeconomics. Alfred Marshall
American economist. Remembered for his The Theory of the Leisure Class that introduced phrases like "conspicuous consumption." He is remembered for likening the ostentation of the rich to the Darwinian proofs-of-virility found in the animal kingdom. Thorstein Veblen
British economist and social philosopher. His work extended the ideas of Ricardo in Essays on Some Unsettled Questions of Political Economy (for example, the relationship between profits and wages) John Stuart Mill
Though he wrote on nearly every subject of moral and social philosophy, he is basically remembered as the author of An Inquiry into the nature and causes of the Wealth of Nations (1776) Adam Smith
the creator of the metaphor of the "invisible hand." This work more-or-less single-handedly founded the Classical school of economics. Adam Smith
Conservative thinker famous for his advocacy of monetarism (an revision of the quantity theory of money) in works like A Monetary History of the United States, 1867-1960 Milton Friedman
Defending economic materialism in Das Kapital Karl Marx
English economist famous for The General Theory of Employment, Interest and Money , which judged most of classical economic analysis to be a special case (hence "General Theory") John Maynard Keynes
British economist also known for examining the necessity of private property in his Principles of Political Economy John Stuart Mill
English cleric/scholar known for his essays on population growth. Believe humanity would reach a point were there would be too many people and not enough food/resources. Wrote Essay on the Principle of Population Thomas Malthus (gives name to the word Malthusian)
The central bank of the United States since 1913. Has 12 branches nationwide; including Kansas City and St. Louis Federal Reserve System
His theory that population tends to increase at a faster rate than its means of subsistence and that unless it is checked by moral restraint or disaster (as disease, famine, or war) widespread poverty and degradation inevitably result. Malthusian (named after Thomas Malthus)
One of the earliest American neoclassical economists, though his later work on debt deflation has been embraced by the Post-Keynesian school Irving Fisher (Namesake to the Fisher Equation)
Current Federal Reserve Chairwoman; appointed in 2014 by President Obama. Janet Yellen
Federal Reserve Chairman from 2006-2014; appointed by President Bush and then reappointed by President Obama. Oversaw the Great Recession Ben Bernanke
Federal Reserve Chairman appointed by President Reagan in 1987. Re-appointed by Presidents George HW Bush, Bill Clinton and George W. Bush. Credited by some for causing the situations that led to the Great Recession Alan Greenspan
Created by: Mr_Morman