Famous Economists

Adam Smith1Adam Smith was born in

County Fify Kirkcaldy

2 Adam Smith was respected as the father of game theory before

1950

3 His famous book “the wealthy of nation was well know for the first modern work of economics

4 Adam Smith’s theory was challenged by John Nash.

1. He was a British political economist.2. Ricardo's theory of comparative advantage

assumes the existence of an industry and trade policy at a national level.

3. Ricardo's theory on international trade focused on comparative costs and looked at how a country could gain from trade when it had relatively lower cost.

4. On the Principles of Poli9324tical Economy and Taxation is a book by David. The book concludes that land rent grows as population increases.

David Ricardo (1772 –1823)

Formaini, Robert L. David Ricardo. dallasfed, n.d. Web. 2 Mar. 2015. <https://www.dallasfed.org/assets/documents/research/ei/ei0402.pdf>.

Malthus was an economic pessimist, viewing poverty as man’s inescapable lot.In 1805 he became a professor of history and

political economy at the East India Company’s college.

Malthus came to prominence for his 1798 essay on population growth.

The Malthusian theory of population made a strong impact on British social policy. It had been believed that fertility itself added to national wealth; the Poor Laws perhaps encouraged large families with their doles.

Ed. Donald G. MacRae. N.p., 24 Aug. 2014. Web. 2 Mar. 2015. <http://www.britannica.com/EBchecked/topic/360609/Thomas-Robert-Malthus/222944/Malthusian-theory>.

Thomas Robert Malthus(1768-1834)

Jean-Baptiste Say（ 1767 –1832 ）• a French economist and businessman

• his field is political economy• He is well known for Say's Law, often summarized as: "Aggregate supply creates its own aggregate demand", "Supply creates its own demand", "Supply constitutes its own demand", "If you build it, they will come", “Inherent in supply is the wherewithal for its own consumption”.• although Say’s Law is named after him, it was originate

by James Mill.Work cite: Jean-Baptiste Say - Wikipedia, the free encyclopedia. N.p., 15 Jan. 2015. Web. 2 Mar. 2015. <http://en.wikipedia.org/wiki/Jean-Baptiste_Say#Say.27s_Law>.

John Stuart Mill

Duncan, Bell. Political Theory. N.p., 4 Feb. 2010. Web. 2 Mar. 2015. <http://www.newyorker.com/magazine/2008/10/06/right-again>.Adam, Gopnik. Right Again. N.p., 6 Oct. 2008. Web. 2 Mar. 2015. <http://www.gutenberg.org/ebooks/10378?msg=welcome_stranger>.

• Mill has been called “the most influential English-speaking philosopher of 19th century, and philosophy built strong base for his later economy research.

• Mill expressed his view on freedom about personal quality and self-improvements.

• Mill’s major contribution to utilitarianism was argument for the qualitative separation of pleasures, and he argued that intellectual and moral pleasures were superior to physical forms of pleasure.

• Intensive study had injurious effects on Mill’s mental health and state of mind. At the age of 20, he suffered a nervous breakdown.

26 July 1842~ 13 July 1924

Alfred Marshall

British

<Economics of Industry>

Mary Paley

Professor of political economy at Cambridge

Citation:

np, Alfred Marshall - Wikipedia, the free encyclopedia, wikipedia, 16 Jan. 2015. web. 20 Jan. 2015. <http://en.wikipedia.org/wiki/Alfred_Marshall>

Sara & Luisa

1. Socialism will fall -planners will never have perfect info. -leads to totalitarianism2. The Road to Serfdom -one of the most famous book he wrote3. The Constitution of Liberty.4. Nobel prize in Economics -1974 10.4

F.A. Hayek (1899 - 1922)

John Maynard Keynes

1. One of the founders of modern macroeconomics(affected the theory and practice)

2. Informed the economic policies of governments

3. Refined earlier work on the causes of business cycles

4. Caused a revolution in economic thinking (state the idea that free markets would, in the short to medium term, automatically provide full employment)

Karl Marx• Marxism influenced

Capitalism

• The book <Das Kapital>

• Establishment of

plutonomy

• Changed status of

proletariat

Jeffrey Sachs

1. Millennium Villages Project

2. Advising in Latin America and postcommunist economies

3. Work on global sustainable economic development

4. In 2002 Sachs became director of the Earth Institute of Columbia 

University.

Paul R. Krugman

Paul Robin Krugman is an American economist.

In 2008, Krugman won the Nobel Memorial Prize in Economic Sciences for his contributions to New Trade Theory and New Economic Geography

Krugman is known in academia for his work on international economics, liquidity traps, and currency crises. Krugman is ranked among the most influential economic thinkers in the US

Krugman has written over 20 books, including scholarly works, textbooks and books for a more general audience, and has published over 200 scholarly articles in professional journals and edited volumes. He has also written more than 750 columns on economic and political issues for The New York Times, Fortune and Slate.