Download or read book The Classical School written by Callum Williams and published by The Economist. This book was released on 2020-05-19 with total page 272 pages. Available in PDF, EPUB and Kindle. Book excerpt: A fascinating chronicle of the lives of twenty economists who played major roles in the evolution of global economic thought. What was Adam Smith really talking about when he mentioned the "invisible hand"? Did Karl Marx really predict the end of capitalism? Did Thomas Malthus (from whose name the word "Malthusian" derives) really believe that famines were desirable? In The Classical School, Callum Williams debunks popular myths about these great economists, and explains the significance of their ideas in an engaging way. After reading this book, you will know much more about the very famous (Smith, Ricardo, Mill) and the not-quite-so-famous (Bernard de Mandeville, Friedrich Engels, Jean-Baptiste Say). The book offers an assessment of what they wrote, the impact it had, and the worthiness of their ideas. It's far from the final word on any of these people, but a useful way of understanding what they were all about, at a time when understanding these economic giants is perhaps more important than ever.

Download or read book An Inquiry Into the Nature and Causes of the Wealth of Nations written by Adam Smith and published by . This book was released on 1822 with total page 522 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book On Classical Economics written by Thomas Sowell and published by Yale University Press. This book was released on 2007-01-01 with total page 324 pages. Available in PDF, EPUB and Kindle. Book excerpt: A reexamination of classical economic theory and methods, by a senior economist of international stature Thomas Sowell's many writings on the history of economic thought have appeared in a number of scholarly journals and books, and these writings have been praised, reprinted, and translated in various countries around the world. The classical era in the history of economics is an important part of the history of ideas in general, and its implications reach beyond the bounds of the economics profession. On Classical Economics is a book from which students can learn both history and economics. It is not simply a Cook's tour of colorful personalities of the past but a study of how certain economic concepts and tools of analysis arose, and how their implications were revealed during the controversies that followed. In addition to a general understanding of classical macroeconomics and microeconomics, this book offers special insight into the neglected pioneering work of Sismondi--and why it was neglected--and a detailed look at John Stuart Mill's enigmatic role in the development of economics and the mysteries of Marxian economics. Clear, engaging, and very readable, without being either cute or condescending, On Classical Economics can enable a course on the history of economic thought to make a contribution to students' understanding of economics in general--whether in price theory, monetary theory, or international trade. In short, it is a book about analysis as well as history.

Download or read book Classical Economic Theory and the Modern Economy written by Steven Kates and published by Edward Elgar Publishing. This book was released on 2020-06-26 with total page 264 pages. Available in PDF, EPUB and Kindle. Book excerpt: Economic theory reached its zenith of analytical power and depth of understanding in the middle of the nineteenth century among John Stuart Mill and his contemporaries. This book explains what took place in the ensuing Marginal Revolution and Keynesian Revolution that left economists less able to understand how economies operate. It explores the false mythology that has obscured the arguments of classical economists, providing a pathway into the theory they developed.

Download or read book Classical Economics Reconsidered written by Thomas Sowell and published by Princeton University Press. This book was released on 1994 with total page 174 pages. Available in PDF, EPUB and Kindle. Book excerpt: This reconsideration of the macroeconomics, microeconomics, methodology, and social philosophy of the classical economists has been a small gem on the history of economic thought, written in a way accessible to students, while having much to teach scholars. The reissue of this book twenty years after its original publication is a tribute to the enduring relevance of the questions raised during the formative period of economics and to the skill with which the author analyzes them.

Download or read book The Classical School written by Callum Williams and published by Profile Books. This book was released on 2020-04-23 with total page 277 pages. Available in PDF, EPUB and Kindle. Book excerpt: 'Williams has chosen an engaging cast of characters; his collection is full of well-lived lives and grisly endings ... Consume it as a whole or dip in and out. Either way, he leaves you a lot wiser.' - Philip Aldrick, Times Opinions vary about who really counts as a classical economist: Marx thought it was everyone up to Ricardo. Keynes thought it was everyone up to Keynes. But there's a general agreement about who belongs to the heroic early phase of the discipline. Adam Smith, David Ricardo, Malthus, Mill, Marx: scarcely a day goes by without their names being publicly invoked to celebrate or criticise the state of the world or the actions of governments. Few of us, though, have read their works. Fewer still realise that the economies that many of them were analysing were quite unlike our modern one, or the extent to which they were indebted to one another. So join the Economist's Callum Williams to join the dots. See how the modern edifice of economics was built, brick by brick, from their ideas and quarrels. And find out which parts stand the test of time.

Download or read book Relevance Concepts Criticisms and Limitations of Classical Economic Theory written by Bortolina Habtamu and published by GRIN Verlag. This book was released on 2024-03-26 with total page 31 pages. Available in PDF, EPUB and Kindle. Book excerpt: Seminar paper from the year 2024 in the subject Business economics - Miscellaneous, Addis Ababa University (Business and Economics), course: development theory, language: English, abstract: The classical school of economic thought began taking shape in the late 18th century, led by Scottish philosopher Adam Smith. In his groundbreaking book The Wealth of Nations published in 1776, Smith introduced several foundational concepts that came to define early classical theory. He observed the immense productive gains achieved through the division of labor in a pin factory, recognizing specialization as a primary driver of economic progress (Smith, 1776). Moreover, Smith theorized his famous metaphor of the "invisible hand”, suggesting that through unhindered individual self-interest and competition in a free market, social welfare is indirectly maximized (Smith, 1776). In the early 19th century, English political economist David Ricardo built significantly upon Smith's foundations. His 1817 work On the Principles of Political Economy and Taxation proposed the influential labor theory of value. Ricardo argued that the cost of production, and therefore the true value, of a good or service is determined by the quantity of labor required to produce it (Ricardo, 1821). He also formulated the principle of comparative advantage to explain patterns of international trade. During this period, Reverend Thomas Malthus published his Essay on the Principle of Population in 1798. In it, he contended that human populations tended to grow at a faster rate than the food supply, potentially resulting in recurrent famines unless checks like disease, war, or birth control intervene (Malthus, 1798 ).

Download or read book Classical Political Economics and Modern Capitalism written by Lefteris Tsoulfidis and published by Springer Nature. This book was released on 2019-09-05 with total page 465 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book promotes an in-depth understanding of the key mechanisms that govern the functioning of capitalist economies, pursuing a Classical Political Economics approach to do so. It explores central theoretical issues addressed by the classical economists Smith and Ricardo, as well as Marx, while also operationalizing more recent theoretical developments inspired by the works of Sraffa and other modern classical economists, using actual data from major economies. On the basis of this approach, the book subsequently provides alternative explanations for various microeconomic issues such as the determination of equilibrium prices and their movement induced by changes in income distribution; the dynamics of competition of firms within and between industries; the law of tendential equalization of interindustry profit rates; and international exchanges and transfers of value; as well as macroeconomic issues concerning capital accumulation and cyclical economic growth. Given its scope, the book will benefit all researchers, students, and policymakers seeking new explanations for observed phenomena and interested in the mechanisms that give rise to surface economic categories, such as prices, profits, the unemployment rate, interest rates, and long economic cycles.

Download or read book Competing Schools of Economic Thought written by Lefteris Tsoulfidis and published by Springer Science & Business Media. This book was released on 2010-06-29 with total page 389 pages. Available in PDF, EPUB and Kindle. Book excerpt: 1. 1 Introduction This book was born out of our reaction to the way in which the usual texts cover the subject of the history of economic thought. In most of these texts, there is a tendency to emphasize the similarities and differences between all the important economists and form a repository of encyclopedic knowledge where one can study the seemingly important economic ideas. In this book, we argue that it is much more fruitful to focus on the essential ideas of each and every school of economic thought and relate them to present-day problems, than to engage into a sterile discussion of the ideas and the lives of the great economists of the past. Thus, although this book deals with the history of economic thought, it does not necessarily follow a historic (in the sense of the order of presentation) approach, but rather a logical one, that is to say it deals with the social conditions associated with the emergence of a school of economic thought, its evolution, and its contemporary in?uence. One cannot write a book on the history of economic thought without writing separate chapters on the major economists of the past, that is, Adam Smith, David Ricardo, Karl Marx, and J. M. Keynes. Of course these economists formed schools of economic thought, that is, the classical and the Keynesian.

Download or read book Competition Value and Distribution in Classical Economics written by Heinz D. Kurz and published by Routledge. This book was released on 2022-03-10 with total page 348 pages. Available in PDF, EPUB and Kindle. Book excerpt: Drawing in particular on the work of Sraffa, Smith, Ricardo and Marx, the essays in this volume explore the characteristic features of the Classical economists’ approach to economic problems, and the renewal of interest in that approach in modern times. In recent years, new material has been made available on both Sraffa and Marx which have made new insights and interpretations possible. The release of Sraffa’s hitherto unpublished papers and correspondence has led to reconsideration of doctrinal questions such as to what extent Sraffa built upon, or deviated from the analyses of Adam Smith, David Ricardo and other representatives of the classical British school and Karl Marx. A major theme is also to what extent we can today, equipped with Sraffa's insights and analytical tools, re-interpret and develop ideas of classical authors, which they could present only in primitive forms, on technological progress, exhaustible resources and other contemporary issues. On Marx, the publication of the MEGA2 edition of the works, papers and correspondence of Marx and Engels also gives rise to a reconsideration of this relationship, given Marx's disenchantment with some of his own work and return to ideas advocated by Ricardo, especially as regards the long-term tendency of the rate of profits. Finally, the classical notion of competition and monopoly deserve to be scrutinized carefully again and frequent misinterpretations in the literature refuted. This volume is vital reading for scholars of classical economics, Marx and Sraffa, and the history of economic thought more broadly. It also deals with issues in the areas of machinery and technical progress, joint production, and economic development and growth.

Download or read book The Rediscovery of Classical Economics written by David Simpson and published by Edward Elgar Publishing. This book was released on 2013-01-01 with total page 225 pages. Available in PDF, EPUB and Kindle. Book excerpt: 'The diligent seeker of truth about our current discontents should turn to. . . The Rediscovery of Classical Economics, by David Simpson. . . Its ostensible object is to resurrect what he calls the "classical tradition" emanating from Adam Smith and distinguish it not only from Keynesian economics but also from today's mainstream known to aficionados as the "neoclassical" orthodoxy. Without going into academic details, this orthodoxy stands accused of replacing a theory of relative prices (how many loaves will buy a pullover) with a more sophisticated account of economic growth, and of foisting on us a theory of "rational expectations" that are anything but rational.' Samuel Brittan, Financial Times 'This book puts human beings back at the heart of the economic process. It shows how this classical, human-centred tradition, stretching from Adam Smith onward, gives us a much better understanding of economic events and what to do about them than the mechanistic, mathematical models of too many economists and planners today.' Eamonn Butler, The Adam Smith Institute, UK 'David Simpson writes about key economic issues with admirable lucidity. He draws deeply on experience as well as on his knowledge of economic theory.' Asa Briggs David Simpson skilfully argues that a market economy can be best understood as a human complex system, a perspective that represents a continuation of the classical tradition in economic thought. In the classical tradition, growth rather than allocative efficiency is the principal object of enquiry, economic phenomena are recognised to be elements of processes rather than structures, and change is evolutionary. The book shows the common principles that connect the early classical school, the Austrian school and complexity theory in a single line of thought. It goes on to show how these principles can be applied to explain the characteristic features of a market economy namely incessant change, growth, the business cycle and the market process itself and argues that static equilibrium theory, whether neoclassical or neo-Keynesian, cannot satisfactorily account for these phenomena. This fascinating book will provide a stimulating read for academics, postgraduate students and all those with an interest in economic theory and economic policy.

Download or read book The Classical Economists and Economic Policy written by Alfred William Coats and published by London : Methuen. This book was released on 1971 with total page 232 pages. Available in PDF, EPUB and Kindle. Book excerpt: "Distributed in the U.S.A. by Barnes & Noble." Bibliography: p. [206]-212.

Download or read book The Theory of New Classical Macroeconomics written by Peter Galbács and published by Springer. This book was released on 2015-04-23 with total page 386 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book examines new classical macroeconomics from a comparative and critical point of view that confronts the original texts and later comments as a first dimension of comparison. The second dimension appears in a historical context, since none of the new classical doctrines can be analyzed ignoring the parallelism and discrepancies with the theory of Keynes, Friedman or Phelps. Radicalism of new classical macroeconomics has brought fundamental changes in economic thought, but the doctrines got vulgarized and distorted thanks to the mass of followers. Nowadays, economic theory and policy, trying to find their ways, have a less clear relationship than ever. Therefore, this volume is aimed at mapping and reconsidering the policy instruments and transmission mechanisms offered by the new classicals. Its central question points to the real nature of new classical macroeconomics: what consequences are grounded by the assumptions new classicals used. Moreover, issues raised by automatic fiscal stabilizers and fiscal reforms are analyzed as well, even if they were out of the range of classical texts. The book draws a picture of new classical macroeconomics stressing the analogies with Keynesian countercyclical policies, instead of the discrepancies commonly held.

Download or read book The Classical Economists Revisited written by D. P. O'Brien and published by Princeton University Press. This book was released on 2017-10-29 with total page 445 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Classical Economists Revisited conveys the extent, diversity, and richness of the literature of economics produced in the period extending from David Hume's Essays of 1752 to the final contributions of Fawcett and Cairnes in the 1870s. D. P. O'Brien thoroughly updates, rewrites, and expands the vastly influential work he first published in 1975, The Classical Economists. In particular, he sets out to make clear the shaping of a comprehensive vision of the working of an open economy, building on the great work of Adam Smith in Wealth of Nations, a development that was substantially affected by the contributions of David Ricardo. He shows that the Classical literature was in fact the work of a host of thinkers from a wide range of backgrounds. Covering the intellectual roots of the Classical literature and its methodological approaches, and the developed theories of value, distribution, money, trade, population, economic growth, and public finance, and examining the Classical attitudes toward a rich variety of policy issues, The Classical Economists Revisited considers not only the achievements of the Classical writers but also their legacy to the later development of economics. A seminal contribution to the field, this book will be treasured for many years to come by economists, historians of economics, instructors and their students, and anyone interested in the sweeping breadth and enduring influence of the classical economists.

Download or read book Criticisms of Classical Political Economy written by Gilles Campagnolo and published by Taylor & Francis. This book was released on 2012-08-06 with total page 441 pages. Available in PDF, EPUB and Kindle. Book excerpt: The role of the German Historical School and of Carl Menger (founder of the Austrian School) is appraised in this new book. This important period of the history of economics is vital to understand how the discipline developed over the next half-century. Gilles Campagnolo has produced an impressive original work which makes use of rarely seen research by Carl Menger and as such this book will be of interest across several discplines, including history of economic thought, economic methodology, philosophy of science and the history of ideas.

Download or read book Popularizing Classical Economics written by W.D. Sockwell and published by Springer. This book was released on 2016-07-27 with total page 228 pages. Available in PDF, EPUB and Kindle. Book excerpt: Popularizing Classical Economics analyzes the theoretical contributions of two British Economists, Henry Brougham and William Ellis, and describes how they popularized economic ideas from the early 1800s through the 1860s. Efforts to spread economic ideas to the lay public have been little studied and few individuals have been recognized for their efforts. This book traces the efforts of Brougham and Ellis to spread classical economic ideas through education of both adults and children.

Download or read book Classical Economics written by Fouad Sabry and published by One Billion Knowledgeable. This book was released on 2023-12-15 with total page 385 pages. Available in PDF, EPUB and Kindle. Book excerpt: What is Classical Economics There is a school of thought in political economy known as classical economics, classical political economy, or Smithian economics. This school of thought flourished, particularly in Britain, in the latter half of the 18th century and the early to middle of the 19th century. It is generally agreed that Adam Smith, Jean-Baptiste Say, David Ricardo, Thomas Robert Malthus, and John Stuart Mill are the most influential theorists in this school of thought. The theory of market economies, which was developed by these economists, describes market economies as systems that are generally self-regulating and are regulated by natural rules of production and exchange. How you will benefit (I) Insights, and validations about the following topics: Chapter 1: Classical economics Chapter 2: David Ricardo Chapter 3: Labor theory of value Chapter 4: Piero Sraffa Chapter 5: Cost-of-production theory of value Chapter 6: Say's law Chapter 7: Theory of value (economics) Chapter 8: Maurice Dobb Chapter 9: Law of value Chapter 10: Prices of production Chapter 11: Tendency of the rate of profit to fall Chapter 12: Criticism of Marxism Chapter 13: Ronald L. Meek Chapter 14: Schools of economic thought Chapter 15: Ricardian economics Chapter 16: Ricardian socialism Chapter 17: Anwar Shaikh (economist) Chapter 18: Perspectives on capitalism by school of thought Chapter 19: An Essay on Marxian Economics Chapter 20: Marxian economics Chapter 21: A History of Economic Thought (II) Answering the public top questions about classical economics. (III) Real world examples for the usage of classical economics in many fields. (IV) Rich glossary featuring over 1200 terms to unlock a comprehensive understanding of classical economics. (eBook only). Who will benefit Professionals, undergraduate and graduate students, enthusiasts, hobbyists, and those who want to go beyond basic knowledge or information for any kind of classical economics.