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Economists

People important to the field of economics

TermDefinition
Adam Smith Author of the Wealth of Nations, Theory of Moral Sentiments Division of labor leads to universal opulence Teacher Frances Hutcheson Lectures on Justice, Police, Revenue, and Arms
Thomas Malthus An Essay on the Principle of Population Response to Godwin's conjecture and Condorcet's beliefs Nature of Rent dealt with Say's law and general glut Argued against Poor Laws in Present High Price of Provisions
David Ricardo Theory of comparative advantage, Robinson and Sraffa Ricardian equivalence means people buy based on government restraints Four magic numbers (Samuelson) for CA Ricardian vice means rigorous logic doesn't mean good economics
Leon Walras Marginal revolution (Jevons, Menger) and Lausanne School Walras' law leads to Pareto optimality and market equilibrium Walrasian auction where each person ways what they're willing to
William Stanley Jevons A General Mathematical Theory of Political Economy A Serious Fall in the Value of Gold The Coal Paradox Related business cycles to sunspots in Commercial Crises and Sun-Spots
Created by: lawrencesimon