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Quiz Bowl > Economists > Flashcards

Economists Flashcards

1
Q

When was Adam Smith alive?

A

1723-1790

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2
Q

What book did Adam Smith mainly write and when?

A

An Inquiry into the nature and causes of the Wealth of Nations (1776)

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3
Q

What metaphor did Adam Smith create?

A

Invisible hand

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4
Q

What did Adam Smith found?

A

Classical School of Economics

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5
Q

What nationality was Adam Smith?

A

Scottish

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6
Q

What nationality was Milton Friedman?

A

American

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7
Q

When was Milton Friedman alive?

A

1912-2006

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8
Q

What kind of thinker was Milton Friedman?

A

Conservative

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9
Q

What did Milton Friedman advocate?

A

Monetarism

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10
Q

What is monetarism a revision of?

A

The quantity theory of money

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11
Q

What was Milton Friedman’s main work and when was it published?

A

A Monetary History of the United States, 1867-1960 (1963)

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12
Q

What government policy did Milton Friedman idealize?

A

Laissez-faire

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13
Q

What nationality was Karl Marx?

A

German

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14
Q

When was Karl Marx alive?

A

1818-1883

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15
Q

What was Karl Marx besides an economist?

A

Historian and social philosopher

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16
Q

What was Karl Marx’s contribution to economic thought?

A

Extending the labor theory of value to its logical conclusion, his theory of surplus value

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17
Q

What else did Karl Marx defend?

A

economic materialism

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18
Q

What book did Karl Marx write?

A

Das Kapital (1867, 1885, 1894)

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19
Q

What nationality was John Maynard Keynes?

A

English

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20
Q

When was John Maynard Keynes alive?

A

1883-1946

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21
Q

What was John Maynard Keynes’ most notable work?

A

The General Theory of Employment, Interest, and Money (1936)

22
Q

What was the best way to deal with prolonged recessions in John Maynard Keynes’ opinion?

A

Deficit spending

23
Q

What nationality was David Ricardo’s nationality?

A

English

24
Q

When was David Ricardo alive?

A

1772-1823

25
Q

What was David Ricardo best known for writing?

A

Principles of Political Economy and Taxation

26
Q

What notion did David Ricardo introduce?

A

Comparative advantage

27
Q

What did David Ricardo theoretically justify?

A

International trade

28
Q

What law did David Ricardo put forth?

A

Iron law of wages

29
Q

What nationality was John Kenneth Galbraith?

A

Canadian

30
Q

When did John Kenneth Galbraith live?

A

1908-2006

31
Q

What were John Kenneth Galbraith’s most famous works?

A

The Affluent Society; The New Industrial State

32
Q

What did John Kenneth Galbraith emphasize?

A

Public service, limitations of the marketplace

33
Q

What nationality was Francois Quesnay?

A

French

34
Q

When did Francois Quesnay live?

A

1694-1774

35
Q

What school of economic thought was Francois Quesnay the leader of?

A

The Physiocrats (the first school of economic thought)

36
Q

What policy did the Physiocrats advocate?

A

Laissez-faire

37
Q

What notion did the Physiocrats advocate?

A

Land is the ultimate source of all wealth

38
Q

What nationality was Alfred Marshall?

A

English

39
Q

When did Alfred Marshall live?

A

1842-1924

40
Q

What was Alfred Marshall’s magnum opus?

A

Principles of Economics (1890)

41
Q

What notions did Principles of Economics by Alfred Marshall introduce?

A

Consumer surplus, quasi-rent demand curves, and elasticity

42
Q

What nationality was Thorstein Veblen?

A

American

43
Q

When did Thorstein Veblen live?

A

1857-1929

44
Q

What is Thorstein Veblen primarily remembered for?

A

The Theory of the Leisure Class (1899)

45
Q

What phrase did Thorstein Veblen introduce in his book?

A

Conspicious consumption

46
Q

What did Thorstein Veblen liken the obstentation of the rich to?

A

Proofs of virility found in the animal kingdom

47
Q

What nationality was John Stuart Mill?

A

English

48
Q

When did John Stuart Mill live?

A

1806-1873

49
Q

What was John Stuart Mill besides an economist?

A

Social philosopher

50
Q

What first book did John Stuart Mill write?

A

Essays on Some Unsettled Questions of Political Economy (1844)

51
Q

What did John Stuart Mill believe in?

A

The relationship between profits and wages

52
Q

What did John Stuart Mill exhaustively examine and in what book?

A

The necessity of private property; Principles of Political Economy (1848)

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