Economists and Theories

Public goods should be paid for by governments

• David Hume

• John Maynard Keynes

• Carl Menger

• John Rawls

• David Ricardo

We should maximize the well-being of the least well-off person in society

• David Hume

• John Maynard Keynes

• Carl Menger

• John Rawls

• Jeremy Bentham

Demonstrated how large amounts of spending by those at the top of the economic tree (landlords) is multiplied as others receive money from them and re-spend it.

• Francois Quesnay

• Friedrich Hayek

• Jean-Baptiste Say

• David Ricardo

• Adam Smith

Taxes should fall on luxuries.

• Francois Quesnay

• Friedrich Hayek

• Jean-Baptiste Say

• David Ricardo

• Josiah Child

Prices are influenced mainly by the cost of production.

• Francois Quesnay

• Friedrich Hayek

• Jean-Baptiste Say

• David Ricardo

• Jeremy Bentham

Handouts weaken the incentive to work.

• Francois Quesnay

• Friedrich Hayek

• Jean-Baptiste Say

• David Ricardo

• Joseph Schumpeter

Supply creates its own demand.

• Francois Quesnay

• Friedrich Hayek

• Jean-Baptiste Say

• David Ricardo

• John Stuart Mill

Consumption is the sole purpose of all production.

• Adam Smith

• Edmund Burke

• John Locke

• Alfred Marshall

• John Maynard Keynes

Inflation is always and everywhere a monetary phenomenon.

• Adam Smith

• Edmund Burke

• John Locke

• Milton Friedman

• Friedrich Hayek

Prices are directly related to the size of the money supply

• Adam Smith

• Edmund Burke

• Irving Fisher

• Milton Friedman

• David Ricardo