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History of Economic Thought
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Flashcards
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Adam Smith
Classical economics, invisible hand, division of labor
David Ricardo
Comparative advantage, labor theory of value, rent theory
John Maynard Keynes
Keynesian economics, government intervention, aggregate demand
Milton Friedman
Monetarism, free-market advocacy, quantity theory of money
Karl Marx
Marxism, surplus value, class struggle
Friedrich Hayek
Austrian School, free market, economic calculation problem
John Stuart Mill
Utilitarianism, principles of political economy, harm principle
Joseph Schumpeter
Creative destruction, entrepreneurship, innovation theory
Thomas Malthus
Malthusianism, population theory, preventative and positive checks
Alfred Marshall
Neoclassical economics, supply and demand, consumer's surplus
Paul Samuelson
Modern economics, welfare economics, public goods
Amartya Sen
Welfare economics, capability approach, economic justice
Murray Rothbard
Anarcho-capitalism, Austrian School, law and economics
Jean-Baptiste Say
Say's Law, market economics, entrepreneur's role
Kenneth Arrow
General equilibrium theory, Arrow's impossibility theorem, information economics
Frank Knight
Distinction between risk and uncertainty, profit theory, Chicago school
Joan Robinson
Monopolistic competition, post-Keynesian economics, economic growth
Thorstein Veblen
Institutional economics, theory of the leisure class, conspicuous consumption
Gary Becker
Economic analysis of social issues, human capital, rational choice theory
Robert Lucas Jr.
Rational expectations, Lucas critique, macroeconomic modeling
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