Econ 4

David Ricardo

• "wealth of nations" 1776, invisible hand and laissez faire

• 1800, population growth and carrying capacity

• 1825, trade and comparative advantage

• 1848, communism/conflict theory

Adam Smith

• "wealth of nations" 1776, invisible hand and laissez faire

• 1800, population growth and carrying capacity

• 1825, trade and comparative advantage

• 1848, communism/conflict theory

1848, communism/conflict theory

• Adam Smith

• Thomas Malthus

• David Ricardo

• Karl Marx and Friedrich Engels

He was a famous American economist. He strongly promoted the idea of free trade and condemned government regulation and socialism.

• Alfred Marshall

• John Maynard Keynes

• Friedrich Hayek, Lugwig Vunmises

• Milton Friedman

1890 "principles of economics" classical economics

• Alfred Marshall

• John Maynard Keynes

• Friedrich Hayek, Lugwig Vunmises

• Milton Friedman

Focus on privatization

• Conflict Theory

• Classical Economic Theory

• Keynesian economics

• Austrian School of Economics

• Chicago School of Economics

The importance of individualism and free markets to create the information and incentives needed to manage the complex interactions of an economy.

• Conflict Theory

• Classical Economic Theory

• Keynesian economics

• Austrian School of Economics

• Chicago School of Economics

a theory that looks at society as a competition for limited resources

• Conflict Theory

• Classical Economic Theory

• Keynesian economics

• Austrian School of Economics

• Chicago School of Economics

Trillion dollars, amount of U.S. exports

• 14.9

• 650

• 11.9

• 3.2

• 1.7

In millions world wide the number of people in extreme poverty.

• 700

• 3.2

• 1.7

• 14.9

• 11.9