National Econ Challenge famous Economists

0.0(0)
studied byStudied by 6 people
learnLearn
examPractice Test
spaced repetitionSpaced Repetition
heart puzzleMatch
flashcardsFlashcards
Card Sorting

1/8

encourage image

There's no tags or description

Looks like no tags are added yet.

Study Analytics
Name
Mastery
Learn
Test
Matching
Spaced

No study sessions yet.

9 Terms

1
New cards

Adam Smith

  • Capitalism

  • Wrote “an inquiry into the wealth of nations”

  • Wrote “theory of moral sentiments”

2
New cards

Karl Marx

  • Communist Manifesto

  • Socialisty

3
New cards

David Ricardo

  • Trade goods produced for least opportunity cost, and import goods produced for most opportunity cost

  • Comparative/ Absolute advantage

4
New cards

Mises

  • Austrian

  • Free Market Capitalism

  • No Socialism

5
New cards

FA Hayak

  • Austrian

  • Free Market Capitalism

  • Road to serfdom

6
New cards

Milton Friedman

  • Monetarism: Controlling Monetary Policy based on rules

  • Less government Intervention

  • Keep Economy Stable

7
New cards

Keynes

  • Macroeconomics

  • Fiscal Policy

  • GDP Formula

  • Circular theory

8
New cards

Say

  • We Produce to Consume

9
New cards

Basquiat

  • Broken Window Fallacy (Destruction is not good because resources could have been used elsewhere aka opportunity cost)

  • Tax is Legal Plunder