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15-Economic Thinkers

Module 15- Campanaro - New Economic Theorists (chart hw)

Personaccomplishments/category/book
Adam Smith "father of economics" * economy must be free from gov't * 3 natural laws of economics * economic liberty = econiomic progress * "the wealth of nations" * LAISSEZ-FAIRE CAPITALIST
Thomas Malthus * not enough resources for all of the people * population grew faster than food supply * population growth only slowed by war, disease, famine, lower birthrates * "an essay on the principle of population" * LAISSEZ-FAIRE CAPITALIST
David Ricardo * natural economic forces kept wages low * permanent poor class * "iron law of wages" * "prinicples of political economy and taxation" * LAISSEZ-FAIRE CAPITALIST
Jeremy Bentham **gov't should promote greatest good for greatest # of people** *people should judge ideas. institutions, and actions -based on their utility- *inidivuals should be free to pursue their own advantage w/o state interference *UTILITARIAN
John Stuart Mill *questioned "unregulated capitalism" *workers -shouldnt- lead deprived/starved lives **equal division of profits** *reforms in agriculture, *womens rights*, legals, prison, and edu. systems *UTILITARIAN
Chalres Fourier & Saint-Simon *help workers who're @ mercy of greedy owners *offset effects of industrialism *belife in progress & social justice **gov't plan economy** *gov't control of key industries will **End poverty and promote equality** *SOCIALISTS
Robert Owen *improved working conditions for his employees *built low-rent houses *no child labor for children 10 and under *free schooling *UTOPIANIST
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