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FAMILY TREE OF ECONOMICS

NL

Noime Lyn Leopoldo

Transcript

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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