Economics Flashcards
Who’s work more or less founded the classical school of economics, and is credited with the metaphor ‘invisible hand’?
Adam Smith (Scottish, 1723–1790)
Which conservative thinker was famous for his advocacy of monetarism and the ideals of laissez-faire government policy. He wrote “A Monetary History of the United States, 1867–1960”
Milton Friedman 1912-2006
Whose principal contribution to economic thought was extending the labour theory of value to its logical conclusion, his theory of surplus value?
Karl Marx
Who wrote ‘The General Theory of Employment, Interest and Money’?
John Maynard Keynes (English, 1883–1946)
Who wrote ‘Principles of Political Economy and Taxation’. He also put forth the so-called iron law of wages.
David Ricardo (English, 1772–1823)
Which Canadian economist wrote ‘The Affluent Society’ and ‘The New Industrial State’?
John Kenneth Galbraith (Canadian, 1908–2006)
Who was the undisputed leader of the Physiocrats, the first systematic school of economic thought?
Francois Quesnay
(French, 1694–1774)
Which economist’s magnum opus, the 1890 work ‘Principles of Economics’, introduced the notions of consumer surplus, quasi-rent, demand curves, and elasticity?
Alfred Marshall (English, 1842–1924)
Who wrote ‘The Theory of the Leisure Class’ (1899), which introduced phrases like “conspicuous consumption.”?
Thorstein Veblen (American, 1857–1929)
Who wrote ‘Principles of Political Economy’ (1848)?
John Stuart Mill
(English, 1806–1873)
