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FAMILY TREE OF ECONOMICS
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FAMILY TREE OF ECONOMICS
PHYSIOCRATS
MERCANTILIST
Quesnay 1758
17th and 18th Centuries
- He published the Tableau économique (Economic Table)
- French economist and intellectual leader of the physiocrats
Adam Smith 1776
- Father of Economics
- The Theory of Moral Sentiments
- "The Wealth of Nations"
- Classical economics: Laissez Faire
- Invisible Hand Theory
CLASSICAL SCHOOL
Thomas Robert Malthus
David Ricardo 1817
- An English cleric and scholar, influential in the fields of political economy and demography.
- An Essay on the Principle of Population (1798)
- His main contribution was to highlight the relationship between food supply and population.
- Labor theory of value
- Theory of Comparative Advantage
- Theory of Rents.
- Principles of Political Economy and Taxation
SOCIALISM
Vladimir Lenin
Karl Marx 1887
- A philosopher and economist famous for his ideas about capitalism and communism.
- He wrote"Das Kapital"
John Stuart Mill 1848
- A Marxist leader who served as the key architect of the October Revolution
- The first leader of the Union of Soviet Socialist Republics.
- Leninism
- New Economic Policy
- An English philosopher, political economist, feminist, and civil servant.
- Principles of Political Economy
- He expanded on the ideas of Utilitarianism
- Theory of liberty
NEOCLASSICAL ECONOMICS
1880-1910
Léon Walras
- A French mathematical economist.
- General Equilibrium Theory
China
Irving Fisher
Alfred Marshall
- Principles of Economics
- Theoretical contributions
- An American economist, statistician, inventor, and Progressive social campaigner.
- One of the earliest American neoclassical economists
- Theory of Interest
- A pioneer of econometrics
John Maynard Keynes 1936
- Keynesian economics
The Union of Soviet Socialist Republics and Eastern Europe
Modern Mainstream Economics
Economics in transition
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