Classical economics
Classical economics is widely regarded as the first modern school of economic thought. Its major developers include Adam Smith, Jean-Baptiste Say, David Ricardo, Thomas Malthus and John Stuart Mill.A...
Why We Should Defend The Enlightenment
Defining the Enlightenment, in time, space and substance, has proven challenging. Yet agreement does exist about certain ideas that originated or matured during this period, about political and econom...
Neoclassical economics
Neoclassical economics is a term variously used for approaches to economics focusing on the determination of prices, outputs, and income distributions in markets through supply and demand, often media...
New classical macroeconomics
New classical macroeconomics, sometimes simply called new classical economics, is a school of thought in macroeconomics that builds its analysis entirely on a neoclassical framework. Specifically, it ...
Criticisms of neoclassical economics
Neo-classical economics has come under critique on the basis of its core ideologies, assumptions, and other matters.
Neoclassical economics is sometimes criticized for having a normative bias. In ...
Why We Should Defend The Enlightenment
Defining the Enlightenment, in time, space and substance, has proven challenging. Yet agreement does exist about certain ideas that originated or matured during this period, about political and econom...
Ricardian socialism
Ricardian socialism is a branch of classical economic thought based upon the work of the economist David Ricardo (1772–1823). The term is used to describe economists in the 1820s and 1830s who develop...
William A. Barnett
William Arnold Barnett (born October 30, 1941) is an American economist, whose current work is in the fields of chaos, bifurcation, and nonlinear dynamics in socioeconomic contexts, as well as in the ...
Wage–fund doctrine
The wage–fund doctrine is an expression that comes from early economic theory that seeks to show that the amount of money a worker earns in wages, paid to them from a fixed amount of funds available t...
Johann Heinrich von Thünen
Johann Heinrich von Thünen (24 June 1783 – 22 September 1850) was a prominent nineteenth century economist. Von Thünen was a Mecklenburg (north German) landowner, who in the first volume of his 1826 t...
Use value
Use value or value in use is the utility of consuming a good—the want-satisfying power of a good or service in classical political economy. In Marx's critique of political economy, any product has a l...
Robert Torrens (economist)
Colonel Robert Torrens (1780, Hervey Hill, Derry – 27 May 1864, London) was a Royal Marines officer, political economist, MP, owner of the influential Globe newspaper and prolific writer. Born i...
William Smart (economist)
William Smart (10 April 1853 – 19 March 1915) was a British economist. Originally a conveyor of the thought of the Austrian School, Smart was increasingly won-over to the neoclassicalism of Alf...
Principles of Political Economy
Principles of Political Economy (1848) by John Stuart Mill was one of the most important economics or political economy textbook of the mid nineteenth century. It was revised until its seventh edition...
John Elliott Cairnes
John Elliott Cairnes (26 December 1823 – 8 July 1875) was an Irish economist. He is often described as the "last of the classical economists".
John Cairnes was born at Castlebellingham, County Lou...
James Mill
James Mill (6 April 1773 – 23 June 1836) was a Scottish historian, economist, political theorist, and philosopher. He was a founder of classical economics, together with David Ricardo, and the f...
Neo-Ricardianism
The neo-Ricardian school is an economic school that derives from the close reading and interpretation of David Ricardo by Piero Sraffa, and from Sraffa's critique of neo-classical economics as present...
Primitive accumulation of capital
In Marxist economics and preceding theories, the problem of primitive accumulation (also called previous accumulation, original accumulation) of capital concerns the origin of capital, and therefore o...
British Currency School
The British Currency School was a group of British economists, active in the 1840s and 1850s, who argued that the excessive issuing of banknotes was a major cause of price inflation, and believed that...
Marketplace of ideas
The "marketplace of ideas" is a rationale for freedom of expression based on an analogy to the economic concept of a free market. The "marketplace of ideas" belief holds that the truth will emerge fro...
David Ricardo
David Ricardo (18 April 1772 – 11 September 1823) was a British political economist. He was one of the most influential of the classical economists, along with Thomas Malthus, Adam Smith, and James Mi...
Alfred Marshall
Alfred Marshall (26 July 1842 – 13 July 1924) was one of the most influential economists of his time. His book, Principles of Economics (1890), was the dominant economic textbook in England for many y...
Say's law
Say's law, or the law of markets, is the controversial assertion, found in classical economics, that aggregate production necessarily creates an equal quantity of aggregate demand. It was stated by th...
Fumio Hayashi
Fumio Hayashi (林 文夫, Hayashi Fumio, born 18 April 1952) is a Japanese economist. As of October 2009, he is a professor at Hitotsubashi University in Tokyo. Hayashi was awarded the inaugural Na...
Trade-off talking rational economic person
Trade-off talking rational economic person (acronym: T.O.T.R.E.P.) is one term, among various, used to denote, in the field of choice analysis, the rational, human agent of economic decisions.
The...
Thomas Robert Malthus
The Reverend Thomas Robert Malthus FRS (13 February 1766 – 29 December 1834) was an English cleric and scholar, influential in the fields of political economy and demography. Malthus himself used...
Criticisms of the labour theory of value
Criticisms of the labor theory of value often arise from an economic criticism of Marxism.
Adherents of neoclassical economics, the currently predominant school, employ the theory of marginalism,...
Irving Fisher
Irving Fisher (February 27, 1867 – April 29, 1947) was an American economist, statistician, inventor, and Progressive social campaigner. He was one of the earliest American neoclassical economists, t...