For more biographies of famous economists, see the Biographies section in the The Concise Encyclopedia Essays On Best Biographies Economics.
Bagehot, Walter Walter Bagehot, a British journalist and early editor of "The Economist," specialized in institutional economic issues. He had a particular interest in central banks, interest rates, and the money supply. His writings on how monetary institutions today called Central Banks behave and why, and how they interact with "credit cycles" today called business cycles influenced later institutions from the Federal Reserve System to the International Monetary Fund.
Best quotes More information; online works on this site Bastable, Charles F. His works included expositions on international trade and clarifications of Ricardo's and Mill's ideas. His classic text, Public Finance, first published inremains the basis for modern textbook coverage of government taxation, debt, and expenditure, and budgeting. He became active in politics and in persuasive writing late in his life, and contributed lively, pithy essays and pamphlets illustrating the many ways in which government protections and limitations to free trade often go awry because of failing to consider their economic side-effects.
Annotated Bibliography by Sheldon Richman Biography in the CEE Best quotes More information; online works on this site Bentham, Jeremy Jeremy Bentham, British social philosopher and political activist, was the founder of the word "utility" in economics. Although in the period immediately after his time the word took on a connotation better read as "usefulness", Bentham himself directly defined utility as private happiness, commensurate with the modern economic usage.
He associated Essays On Best Biographies striving for this happiness as a matter of the incentives provided by the balancing of pain versus pleasure. He later used this simplified standard to evaluate political policy decisions.
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However, his earlier applied-economics writings such as Defence of Usury, didn't try to force that standard of policy evaluation, but instead focused on what would today be considered marginal utility and marginal productivity.
Bentham's own early precocity in Latin and law possibly influenced James's famously rigorous upbringing of John Essays On Best Biographies. Bentham was also an early, adamant spokesman for pervasive human rights. His second book in this series of two, The Positive Theory of Capital, continued on to study the accumulation and influences of capital, proposing an average period of production.
This work on capital stood in contrast to the contemporaneous work of John Bates Clark on the marginal productivity of capital, and set off a great debate in economics. In the process, he also helped highlight errors in the economic foundations of More info, as proposed by Rodbertus and Marx.
See also John Bates Clark. He was a follower of Ricardo and Learn more here. His work clarified the principles, logical, and scientific methods behind their thought. More information; online works on this site Clark, John Bates John Bates Clark, American economist, was the first to Essays On Best Biographies marginal productivity theory, using it to explore the distribution of income between returns to labor and capital in a market economy.
His work influenced other economists, including Frank Knight. He taught at Columbia University. The prestigious John Bates Clark award is given every other year to an economist under age 40, in his honor. See also Eugen v. More information; online works on this site Heckscher, Eli F. His writings on international trade included historical studies of economic policies that failed because the systems eschewed free trade, such as Essays On Best Biographies Continental System and Mercantilism.
More information; online works on this site See also: Hobson was an English historian and journalist with an interest in economics. Although his lack of understanding of markets and marginal analysis led to his being ostracized by his contemporary academic economics circles, his thoughtful critique of the justifications of imperialism and his work taking the topic back to first principles stands today as an example of respect for all peoples throughout the world.
He was a member of the Fabian Society, and although he wrote for several socialist journals, he was an independent thinker who argued that capitalist goals had been perverted by special interests and misdirected governments.
More information; online works on this site Hodgskin, Thomas Thomas Hodgskin, officer in the British Navy who left and subsequently worked for The Economist, Essays On Best Biographies one of the earliest popularizers of economics for audiences of non-economists. He gave lectures on free trade, the corn laws, and labor to "mechanics institutes" which we might now call adult education groups even before Jane Haldimand Marcet.
Hodgskin passionately cared about the concerns of laborers after his experience with the maltreatment of sailors.
His discussions of the labor theory of value followed up on David Ricardo and pre-dated John Stuart Mill's expositions on similar themes. Popular economics writings in the early sby Dr. Glamorgan Essays, by Jane Haldimand Marcet. More works by Hodgskin, in the OLL. More works by Hodgskin listed at the HET.
He has taught all over the world, from Canada to Australia, and received numerous awards. More information; online works Essays On Best Biographies this site Hoxie, Robert F.
Hoxie was a U. Inhe published his seminal article on the subject in the JPE, around which he also based a subsequent book. By characterizing and distinguishing the different kinds of unions, Hoxie made sense of the welter of contradictory views of them. Although he died before he was able to complete Essays On Best Biographies own research agenda, his work created an academic stir and gave rise to the fruitful scientific study of the topic during the 20th century.
More information; online works on this site Hume, David David Hume was a Scottish philosopher, historian, and political economist, personal friend of Adam Smith, who was a proponent of free trade.
His works highlighted the neutrality of money and the errors of the mercantilists whose flawed theories in favor of increased exports in order to build up a stock of gold remain the foundations of many public policies even today. His works on risk and uncertainty created a foundation for economic theory while repeatedly drawing on evidence and the everyday experiences of business owners, families, and ethical considerations.
Annotated Bibliography by Ross B.
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His interests in the subject ranged from international differences and tax laws, to accounting questions, to Work Writer Site Online issues such as the use of accurate national income data in studying the business cycle and savings behavior.
His work influenced economists across the board, from Milton Friedman to Franco Modigliani. Laurence Head of the U. Laurence Laughlin brought his interest in monetary systems and the practical workings of free markets to general academic attention in the United States.
He brought Thorstein Veblen to the University of Chicago. More information; online Essays On Best Biographies on this site Leggett, William American journalist and founder of the Plaindealer, William Leggett began his career as a poet and gravitated toward writing impassioned editorials in support of individual liberties and private property rights while working with William Cullen Bryant at the Evening Post.
His emphasis on using data and evidence to keep theorizing relevant and down-to-earth influenced both classical and Keynesian economists of his day. Leontief taught at Harvard and, until his recent death, at New York University. Biography in the CEE List, Friedrich German historian who wrote in favor of protective tariffs and trade retaliations between industrial nations, even if they maintain free trade within each country.
During the s, he lived in Pennsylvania, where he contributed to the pro-tariff debates in the United States. His economic arguments were centered around refutations of Adam Smith. He was an active opponent of slavery, a supporter of education and equality in India, and instrumental to parliamentary reform to increase representation of cities that had become unrepresented relative to rural areas during the rapid industrial growth. He authored a five-volume work on the History of England, and wrote numerous clear-minded, critical essays.
His lively writing style and ability to document the facts of extraordinary financial bubbles and political upheavals from the South Sea Bubble to tulipomania to the Crusades influenced reporters and economists from his time to this day.
More information; online works on this site More bio information Malthus, Thomas Robert Thomas Robert Malthus received instant renown for his youthful publication of the timely Essay on the Principle of Population, the first edition of which became the topic of debate everywhere from street corners to academic halls. His intellectual honesty led him quickly to refine his work, backing it up in subsequent editions with facts and clearer exposition, and removing from it some of the original simplistic explanations which were too-easily misunderstood.
His lifetime economic work on population growth around the world was a fine example of using empirical evidence to test economic theory, which influenced economists from his day to the present. He held the first professorship to include the title of "political economy" at East India Company College, Haileyburyduring which time he published other works, including Principles of Political Economy. Biography in the CEE More information; online works on this site Marcet, Jane Haldimand Jane Haldimand Marcet, home-educated, popular English expository Essays On Best Biographies in chemistry, botany, religion, and economics.
Her works on economics sometimes anonymously published to pass as works by male authors elucidated with a satirical, light-hearted, popular touch matters link more abstrusely by Smith, Ricardo, Mill, Malthus, and other economists of her day.
Her most renowned work, Conversations on Chemistrywas so enticing and clearly written that it is famous for inspiring the youthful, dyslexic Michael Faraday, apprenticed at the bookbinder's shop where it was being produced, to a lifetime of dedicated broad vision that ultimately became the foundation of electromagnetic technology today.
Her subsequent expositions of economics, among other subjects, were equally inspiring and widely-read. More information; online works on this site Marshall, Alfred Alfred Marshall, English economist at the University of Cambridge, reconciled many neoclassical economic concepts and introduced many of the modern terms and diagrams used today by economists.
His teaching covered marginal utility, elasticity of demand, production costs, and consumer surplus. Biography in the CEE More information; online works on this site Mill, James James Mill, Scottish-born son of a cobbler click education-oriented mother, wrote on the British corn laws, free trade, comparative advantage, David RicardoThomas Robert Malthus Essays On Best Biographies, and the history of India.
His influential and clarifying writings, and the circle of thinkers he source around him, are frequently overshadowed by the demanding education he gave his precocious son, John Stuart Mill, who later famously described his father in his autobiography. Biographical excerpt by John Stuart Mill More information; online works on this site Mill, John Stuart John Stuart Mill, English philosopher and economist, was rigorously home-schooled by his father.
He was an apt student who read Greek and Latin before age 10, and quickly continued his studies with logic, history, and economics. His youth was spent in the company of the intellectual elite of his day, including Jeremy Bentham, who interested him in Utilitarianism. His fearlessness and meticulousness in joining rational debate both in person and in print drew him to write on a range of topics in philosophy, logic, and social issues.
He adopted some Essays On Best Biographies the Utopian socialist Essays On Best Biographies, arguing that workers could become entrepreneurs, without endorsing full centralized ownership or planning. Biography in the CEE More information; online works on this site Milton, John John Milton, English poet, historian, and essayist, preferred poetry but later in life was drawn to publish pamphlets and works defending religious and civil liberty, freedom of the press, and practical reforms.
His works reflect many of the swirling religious conflicts of his day. Although he did not intend his pamphlets to be on economics, essays article source as his "Areopagitica," a plea for eschewing the government licensing of publishers, are excellent examples of applied economics principles.
More information; online works on this site Mises, Ludwig von Ludwig von Mises, Austrian-born economist who taught at the University of Vienna and later at New York University, wrote many works on two related economic themes: His influential work on economic freedoms, their causes and consequences, brought him to highlight the interrelationships between economic and non-economic freedoms in societies, and the appropriate role for government.
Biography in the CEE Best quotes More information; online works on this site Newcomb, Simon Simon Newcomb, Canadian-born, home-educated astronomer and mathematician who supervised the revamping of the telescopes at the United States Naval Observatory, plotted the orbits of Uranus, Neptune, and the moon, and taught at Johns Hopkins University, had an ongoing skill and interest in illuminating complex theories and evidence in plain language.
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He brought this refreshing skill repeatedly to economics, which was in the process of becoming increasingly mathematical during his academic years. His graphical depiction of this in a "Tableau Economique" helped economists explain and keep track of the accounting of goods and services, which aided economists in explaining the flaws of the mercantilists' claims that countries that exported and accumulated gold benefited themselves.
There are two other contemporary John Raes: More information; online works on this site Read, Leonard E. It has influenced generations of economists, including Milton Friedman, through its charm and clarity. More information; online works on this site Ricardo, David David Ricardo, born in London of parents recently emigrated from Amsterdam, where he was educated as a youth in yeshivas. He returned to London Essays On Best Biographies made a large fortune as a stockbroker, and eventually was elected to Parliament; but he also enjoyed reading about economics.
He was ultimately inspired by Smith's The Essays On Best Biographies and Causes of the Wealth of Nations, and, using his background in the stock market and his natural incisive ability, actively disagreed with the mercantilist views on gold accumulation and the pricing of gold.
He eventually took on some of Smith's inconsistencies, and in the process developed the role of comparative advantage in international trade. His contributions to the economics of rent, monetary theory, and the theory of value influenced economists of his day and since. He had a gift for rendering into clear English the vital principles of economics, all with a touch of unforgettable humor. He opposed compulsory, state-funded education and sought market alternatives.