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