Economy Project

Rene Pinto 11A

Was a Scottish philosopher and economist who are best known as the author of An Inquiry into the Nature and Causes of the Wealth Of Nations (1776), one of the most influential books ever written. Also known as the magnum opus of Economics .Smith is known as the father of Economics and Capitalism and is among the most influential thinkers of economics today Was a British economist whose ideas have affected theory and practice of modern macroeconomics. Keynes is considered to be one of the founders of modern macroeconomics, and to be the most influential economist of the 20 century.

Adam Smith(17231790)

The Wealth of Nations:

first published on 9 March 1776. It influenced a number of authors and economists around the world the book talks about modern economy and capitalism.

was

John Maynard Keynes(1883-1946)

The General Theory of Employment, Interest and Money: Published in February 1936
the book, shaped modern macroeconomics. Generally considered to be his magnum opus of macroeconomics. It was thought to bring a revolution, commonly referred to the "Keynesian Revolution", it changed in the way economists thought.

David Ricardo o (1772

1823)

Was an English political economist and stock trader. He was credited with systematizing economics, and was one of the most influential of the classical economists. His most important contribution was the law of comparative advantage, an important argument in favor

Comparative advantage: It
refers to the ability of a person or a country to produce a specific good or service at a lower marginal and opportunity cost over another. Even if one country is better in the production of all

David Ricardo o (1772

1823) Thomas Robert Malthus FRS (1766 1834)

of free trade among countries and of specialization among individuals.

goods than the other, both countries will still gain by trading with each other, as long as they have different relative efficiencies.

Was an English scholar, influential in political economy and demography. Malthus popularized the economic theory of rent. Malthus has been widely known for his theories about population and its increase or decrease in response to various factors. The six editions of his An Essay on the Principle of Population, published from 1798 to 1826. Malthus placed the longer stability of the economy above short-term expediency. He criticized the Poor Laws and supported the Corn Laws, which introduced a system of taxes on British imports. He thought these measures would encourage domestic production, and so promote long-term benefits.
Was a German philosopher, economist, sociologist, historian, journalist, and revolutionary socialist. His ideas made a significant role in the development of social science and the socialist movement. He published various books during his lifetime, with the most notable being The Communist Manifesto (1848) and Capital (18671894). Marx's theories about society, economics and politics collectively known as Marxism said that all societies progress through the dialectic of class struggle: a conflict between an ownership class which controls production and a lower class which produces the labour for goods. Heavily criticizes of the current socio-economic society, capitalism, he called it the "dictatorship of the bourgeoisie

An Essay on the Principle of Population: was first published

anonymously in 1798.While it was not the first book on population, it has been acknowledged as the most influential work of its era. A key portion of the book was dedicated to what is now known as Malthus' Iron Law of Population This theory suggested that growing of population rates would help to a rising supply of labour that would inevitably lower wages. Malthus feared that continued population growth would lend itself to poverty.

Karl Heinrich Marx (1818 1883)

The Communist Manifesto:

It has since been recognized as one of the world's most influential political manuscripts. It presents an analytical approach to the class struggle and the problems of capitalism, than a prediction of communism's potential future forms. It also briefly features their ideas for how the capitalist society of the time would eventually be replaced by socialism, and then eventually communism.

Das Kapital: is a critical analysis of

capitalism as political economy, meant to reveal the economic laws of the capitalist mode of production, and how it was the precursor of the socialist mode of production.