2. Karl Marx
Rheinische Zeitung-
criticizing contemporary
political and social
conditions embroiled him in
controversy with the
authorities.
collaboration to elucidate
systematically the
theoretical principles of
communism and to
organize an international
working-class movement.
3. John Maynard Keynes
Keynesianism
A Treatise on Money (1930; 2
volumes) and The General
Theory of Employment,
Interest, and Money (1936).
Since business investment
necessarily fluctuated, it could
not be depended on to
maintain a high level of
employment and a steady flow
of income through the
economy.
4. DISCO HAIRCARE
• your subtitle goes
here
The Wealth of Nations
(1776).
Capital is best employed
for the production and
distribution of wealth
under conditions of
governmental
noninterference, or
laissez-faire, and free
trade.
Principle of the “invisible
hand”.
ADAM SMITH
5. David Ricardo
Principles of Political Economy and
Taxation
Ricardo feared increasing population would
lead to a shortage of productive land; his
theory of rent is based on relative land
productivity. He supported the classical
theory of international trade, emphasizing
national specialization and freedom of
competition.
6. Friedrich Engels
• Communist Manifesto.
• He believed that the social
evils of the time were the
inevitable result of the
institution of private property
and could be eliminated
only through a class
struggle culminating in a
Communist society.
7. Max Weber
• The Protestant Work
Ethic and the Spirit of
Capitalism.
• he tried to prove that
ethical and religious ideas
were strong influences on
the development of
capitalism.
8. Thomas Malthus
• An Essay on the
Principle of
Population (1798).
• population tends to
increase faster than
the supply of food
available for its
needs.
9. John Kenneth Galbraith
American economist.
Galbraith’s works,
especially The Affluent
Society (1958),
He argued that the United
States had reached a stage
in its economic development
that should enable the
country to direct its
resources toward providing
better public services rather
than the production of
consumer goods.
10. Friedrich August von Hayek
Austrian economist Friedrich
August von Hayek won the
1974 Nobel Prize in economics.
The Road to Serfdom (1944),
in which he argued that
governments should not
intervene in the control of
inflation or other economic
matters.