Definitions

1. Classical economists, the original "liberals", were reformers with a political agenda. (Web site)
2. The classical economists are excusable for having neglected it.

Irrefutable Truth

1. This relationship virtually all the classical economists held to be an irrefutable truth.

Great Classical Economists

1. The great classical economists from Adam Smith (1723–1790) to Max Hirsch (1853–1909) called such assets capital.

Profits

1. In dealing with this issue they speak of profits in the sense in which the classical economists applied this term. (Web site)

Theory

1. His analysis of rent long remained the classic account, while his theory of labor value was later adopted by socialists as well as classical economists. (Web site)

Development

1. Classical economists attempted to explain growth and development. (Web site)

Income

1. Furthermore there is no homogeneous source of income that could be called profit in the sense in which the classical economists applied this term. (Web site)

Money

1. The classical economists also employed the word "capital" in reference to money. (Web site)

Wealth

1. Analyzing the growth in the wealth of nations and advocating policies to promote such growth was a major focus of classical economists. (Web site)

Accumulation

1. In contrast, the classical economists had directed their attention to the accumulation of capital, the growth of national wealth.

Supply

1. Many classical economists had believed in Say's Law, that supply creates its own demand, so that a "general glut" would therefore be impossible.

Smith

1. Other classical economists presented variations on Smith, termed the ' labour theory of value '.

Political Economy

1. The Classical economists took the theory of the determinants of the level and growth of population as part of Political Economy. (Web site)

Austrian Economists

1. As Machovec puts it, "Austrian economists see the market process much as the classical economists saw it'' (p.

Austrian School Economists

1. These have included the classical economists, Austrian School economists, Chicago School economists and public choice theory economists. (Web site)

David Ricardo

1. It was this school that heavily critiqued the deductive approach of the classical economists, especially the writings of David Ricardo. (Web site)

Wages

1. Classical economists distinguished between earned income (wages and profits) and unearned income (land rent, monopoly rent and interest).
2. Third, although they had somewhat different reasons, all the classical economists subscribed to one form or another of a subsistence theory of wages.

Economics

1. Classical economists reoriented economics away from an analysis of the ruler's personal interests to a class-based interest.
2. Henry Charles Carey (1793-1879) was an American writer on economics who rejected the key ideas of the British classical economists. (Web site)

Production

1. Second, all the classical economists searched for value in the conditions of production.
2. It is not specifically connected with any of the three classes of factors of production which the classical economists distinguished. (Web site)

Commodity

1. According to classical economists, cost was represented by the labour necessary to produce a commodity.

Work

1. Marx's economics took as its starting point the work of the best-known economists of his day, the British classical economists. (Web site)

Third Part

1. The third part of the definition was not always used by classical economists. (Web site)

Economic Growth

1. Classical economists attempted and partially succeeded to explain economic growth and development.

Full Employment

1. His work on employment went against the idea that the market ultimately settles at a state of full employment - a central tenet of Classical economists. (Web site)

Market Prices

1. The Classical economists had formulated a theory attempting to explain market prices as the outcome of the operation of the law of supply and demand.

Value

1. Those classical economists held that the value of a given good was based on the labor put into it.
2. The plausible idea that the value of a commodity derives from its utility for the purchaser had also not been foreign to the classical economists.
3. The last objection is also sometimes interpreted as the paradox of value, which was observed by classical economists.

Karl Marx

1. A production-centred world view was behind the writing of both classical economists as disparate as Karl Marx and Adam Smith. (Web site)
2. Karl Marx agreed with Henry George and with the classical economists that land rent was a form of exploitation.

Quantity Theory

1. Until the early twentieth century, the quantity theory of money dominated as the favored macroeconomic model among classical economists. (Web site)

Economists

1. Some economists, particularly many classical economists still believe this.

Marx

1. Marx built on, and critiqued, the best-known economists of his day, the British classical economists. (Web site)

Goods

1. The classical economists had considered savings a fund of direct goods withheld from consumption and devoted to production.

Inventories

1. Thus, excessive saving corresponds to an unwanted accumulation of inventories, or what classical economists called a " general glut ".

Ricardo

1. However, classical economists such as Malthus and Ricardo attributed the successive diminishment of output to the decreasing quality of the inputs. (Web site)
2. The classical economists, especially Ricardo, could in retrospect be considered macroeconomists in an era that predates any hint of the modern distinction. (Web site)
3. Avowedly, Marx traces his doctrine of labor value to Ricardo, and through him to the classical economists. (Web site)

Adam Smith

1. Douglas disagreed with classical economists such as Adam Smith and David Ricardo who divided the factors of production into land, labour and capital. (Web site)
2. Milton Friedman effectively took many of the basic principles set forth by Adam Smith and the classical economists and modernized them.
3. But, unlike classical economists such as Adam Smith and David Ricardo, apparatchik economists ignore the important role of land in the economy.

Classical Economists

1. Thirdly, the supply oriented theory of value put forward by classical economists like Smith, Ricardo, Marx and Mill shall be examined. (Web site)
2. Marx bases his work on that of the classical economists like Adam Smith, David Ricardo, John Stuart Mill and even Benjamin Franklin. (Web site)
3. The labor theory of value dominates the work of most classical economists, but it is far from the only accepted basis for "value". (Web site)

Categories

1. Society > Economics > Economists > Adam Smith
2. Ricardo
3. Society > Economics > Economists > Austrian Economists
4. Inventories
5. Economics > Economists > Karl Marx > Marx

Subcategories

David Ricardo

1. Books about "Classical Economists" in Amazon.com
   

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