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Friedrich August Von Hayek
Friedrich August von Hayek ( , ; 8 May 189923 March 1992), often referred to by his initials F. A. Hayek, was an Austrian–British economist, legal theorist and philosopher who is best known for his defense of classical liberalism. Hayek shared the 1974 Nobel Memorial Prize in Economic Sciences with Gunnar Myrdal for their work on money and economic fluctuations, and the interdependence of economic, social and institutional phenomena. His account of how changing prices communicate information that helps individuals coordinate their plans is widely regarded as an important achievement in economics, leading to his prize. Hayek served in World War I during his teenage years and said that this experience in the war and his desire to help avoid the mistakes that had led to the war drew him into economics. At the University of Vienna, he studied economics, eventually receiving his doctoral degrees in law in 1921 and in political science in 1923. He subsequently lived and worke ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Austrian School
The Austrian School is a heterodox school of economic thought that advocates strict adherence to methodological individualism, the concept that social phenomena result exclusively from the motivations and actions of individuals. Austrian school theorists hold that economic theory should be exclusively derived from basic principles of human action.Ludwig von Mises. Human Action, p. 11, "Purposeful Action and Animal Reaction". Referenced 2011-11-23. The Austrian School originated in late-19th- and early-20th-century Vienna with the work of Carl Menger, Eugen von Böhm-Bawerk, Friedrich von Wieser, and others. It was methodologically opposed to the Historical School (based in Germany), in a dispute known as '' Methodenstreit'', or methodology struggle. Current-day economists working in this tradition are located in many different countries, but their work is still referred to as Austrian economics. Among the theoretical contributions of the early years of the Austrian School ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
John Maynard Keynes
John Maynard Keynes, 1st Baron Keynes, ( ; 5 June 1883 – 21 April 1946), was an English economist whose ideas fundamentally changed the theory and practice of macroeconomics and the economic policies of governments. Originally trained in mathematics, he built on and greatly refined earlier work on the causes of business cycles. One of the most influential economists of the 20th century, he produced writings that are the basis for the school of thought known as Keynesian economics, and its various offshoots. His ideas, reformulated as New Keynesianism, are fundamental to mainstream macroeconomics. Keynes's intellect was evident early in life; in 1902, he gained admittance to the competitive mathematics program at King's College at the University of Cambridge. During the Great Depression of the 1930s, Keynes spearheaded a revolution in economic thinking, challenging the ideas of neoclassical economics that held that free markets would, in the short to medium term, ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Milton Friedman
Milton Friedman (; July 31, 1912 – November 16, 2006) was an American economist and statistician who received the 1976 Nobel Memorial Prize in Economic Sciences for his research on consumption analysis, monetary history and theory and the complexity of stabilization policy. With George Stigler and others, Friedman was among the intellectual leaders of the Chicago school of economics, a neoclassical school of economic thought associated with the work of the faculty at the University of Chicago that rejected Keynesianism in favor of monetarism until the mid-1970s, when it turned to new classical macroeconomics heavily based on the concept of rational expectations. Several students, young professors and academics who were recruited or mentored by Friedman at Chicago went on to become leading economists, including Gary Becker, Robert Fogel, Thomas Sowell and Robert Lucas Jr. Friedman's challenges to what he called "naive Keynesian theory" began with his interpretatio ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
David D
David (; , "beloved one") (traditional spelling), , ''Dāwūd''; grc-koi, Δαυΐδ, Dauíd; la, Davidus, David; gez , ዳዊት, ''Dawit''; xcl, Դաւիթ, ''Dawitʿ''; cu, Давíдъ, ''Davidŭ''; possibly meaning "beloved one". was, according to the Hebrew Bible, the third king of the United Kingdom of Israel. In the Books of Samuel, he is described as a young shepherd and harpist who gains fame by slaying Goliath, a champion of the Philistines, in southern Canaan. David becomes a favourite of Saul, the first king of Israel; he also forges a notably close friendship with Jonathan, a son of Saul. However, under the paranoia that David is seeking to usurp the throne, Saul attempts to kill David, forcing the latter to go into hiding and effectively operate as a fugitive for several years. After Saul and Jonathan are both killed in battle against the Philistines, a 30-year-old David is anointed king over all of Israel and Judah. Following his rise to power, D ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Ludwig Erhard
Ludwig Wilhelm Erhard (; 4 February 1897 – 5 May 1977) was a German politician affiliated with the Christian Democratic Union (CDU), and chancellor of West Germany from 1963 until 1966. He is known for leading the West German postwar economic reforms and economic recovery ('' Wirtschaftswunder'', German for "economic miracle") in his role as Minister of Economic Affairs under Chancellor Konrad Adenauer from 1949 to 1963. During that period he promoted the concept of the social market economy (''soziale Marktwirtschaft''), on which Germany's economic policy in the 21st century continues to be based. In his tenure as Chancellor, however, Erhard lacked support from Adenauer, who remained chairman of the party until 1966, and failed to win the public's confidence in his handling of a budget deficit and his direction of foreign policy. His popularity waned, and he resigned his chancellorship on 30 November 1966. Early life Ludwig Erhard was born in Fürth, Kingdom of Bavaria o ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Ronald Coase
Ronald Harry Coase (; 29 December 1910 – 2 September 2013) was a British economist and author. Coase received a bachelor of commerce degree (1932) and a PhD from the London School of Economics, where he was a member of the faculty until 1951. He was the Clifton R. Musser Professor of Economics at the University of Chicago Law School, where he arrived in 1964 and remained for the rest of his life. He received the Nobel Memorial Prize in Economic Sciences in 1991. Coase believed economists should study real-world wealth creation, in the manner of Adam Smith, stating, "It is suicidal for the field to slide into a hard science of choice, ignoring the influences of society, history, culture, and politics on the working of the economy." He believed economic study should reduce emphasis on Price Theory or theoretical markets and instead focus on real markets. He established the case for the corporation as a means to pay the costs of operating a marketplace. Coase is best known f ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Wittgenstein
Ludwig Josef Johann Wittgenstein ( ; ; 26 April 1889 – 29 April 1951) was an Austrian- British philosopher who worked primarily in logic, the philosophy of mathematics, the philosophy of mind, and the philosophy of language. He is considered by some to be the greatest philosopher of the 20th century. From 1929 to 1947, Wittgenstein taught at the University of Cambridge. In spite of his position, during his entire life only one book of his philosophy was published, the 75-page ''Logisch-Philosophische Abhandlung'' (''Logical-Philosophical Treatise'', 1921), which appeared, together with an English translation, in 1922 under the Latin title ''Tractatus Logico-Philosophicus''. His only other published works were an article, " Some Remarks on Logical Form" (1929); a book review; and a children's dictionary. His voluminous manuscripts were edited and published posthumously. The first and best-known of this posthumous series is the 1953 book ''Philosophical Investigations''. A ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Friedrich Von Wieser
Friedrich Freiherr von Wieser (; 10 July 1851 – 22 July 1926) was an early (so-called "first generation") economist of the Austrian School of economics. Born in Vienna, the son of Privy Councillor Leopold von Wieser, a high official in the war ministry, he first trained in sociology and law. In 1872, the year he took his degree, he encountered Austrian-school founder Carl Menger's '' Grundsätze'' and switched his interest to economic theory. Wieser held posts at the universities of Vienna and Prague until succeeding Menger in Vienna in 1903, where along with his brother-in-law Eugen von Böhm-Bawerk he shaped the next generation of Austrian economists including Ludwig von Mises, Friedrich Hayek and Joseph Schumpeter in the late 1890s and early 20th century. He was the Austrian Minister of Commerce from August 30, 1917, to November 11, 1918. Wieser is renowned for two main works, ''Natural Value'', which carefully details the alternative-cost doctrine and the theory of ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Voltaire
François-Marie Arouet (; 21 November 169430 May 1778) was a French Enlightenment writer, historian, and philosopher. Known by his '' nom de plume'' M. de Voltaire (; also ; ), he was famous for his wit, and his criticism of Christianity—especially of the Roman Catholic Church—and of slavery. Voltaire was an advocate of freedom of speech, freedom of religion, and separation of church and state. Voltaire was a versatile and prolific writer, producing works in almost every literary form, including plays, poems, novels, essays, histories, and scientific expositions. He wrote more than 20,000 letters and 2,000 books and pamphlets. Voltaire was one of the first authors to become renowned and commercially successful internationally. He was an outspoken advocate of civil liberties and was at constant risk from the strict censorship laws of the Catholic French monarchy. His polemics witheringly satirized intolerance, religious dogma, and the French institutions of his day. H ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Dean Tucker
Josiah Tucker (also Josias) (December 1713 – 4 November 1799), also known as Dean Tucker, was a Welsh churchman, known as an economist and political writer. He was concerned in his works with free trade, Jewish emancipation and American independence. He became Dean of Gloucester. Life He was born at Laugharne, Carmarthenshire; his father inherited a small estate near Aberystwyth, and sent his son to Ruthin School, Denbighshire. Tucker obtained an exhibition at St John's College, Oxford. He graduated B.A. in 1736, M.A. in 1739, and DD in 1755. In 1737 he became curate of St. Stephen's Church in Bristol, and two years later rector of All Saints' Church in the same city. He was appointed to a minor canonry in the cathedral, and was noticed by Bishop Joseph Butler, to whom he was for a time domestic chaplain. On the death of Alexander Stopford Catcott in 1749 Tucker was appointed by the chancellor to the rectory of St. Stephen's. In 1754 Robert Nugent was elected for Bristo ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Tocqueville
Alexis Charles Henri Clérel, comte de Tocqueville (; 29 July 180516 April 1859), colloquially known as Tocqueville (), was a French aristocrat, diplomat, political scientist, political philosopher and historian. He is best known for his works '' Democracy in America'' (appearing in two volumes, 1835 and 1840) and '' The Old Regime and the Revolution'' (1856). In both, he analyzed the living standards and social conditions of individuals as well as their relationship to the market and state in Western societies. ''Democracy in America'' was published after Tocqueville's travels in the United States and is today considered an early work of sociology and political science. Tocqueville was active in French politics, first under the July Monarchy (1830–1848) and then during the Second Republic (1849–1851) which succeeded the February 1848 Revolution. He retired from political life after Louis Napoléon Bonaparte's 2 December 1851 coup and thereafter began work on ''The ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Adam Smith
Adam Smith (baptized 1723 – 17 July 1790) was a Scottish economist and philosopher who was a pioneer in the thinking of political economy and key figure during the Scottish Enlightenment. Seen by some as "The Father of Economics"——— or "The Father of Capitalism",———— he wrote two classic works, '' The Theory of Moral Sentiments'' (1759) and ''An Inquiry into the Nature and Causes of the Wealth of Nations'' (1776). The latter, often abbreviated as ''The Wealth of Nations'', is considered his '' magnum opus'' and the first modern work that treats economics as a comprehensive system and as an academic discipline. Smith refuses to explain the distribution of wealth and power in terms of God’s will and instead appeals to natural, political, social, economic and technological factors and the interactions between them. Among other economic theories, the work introduced Smith's idea of absolute advantage. Smith studied social philosophy at the University of Gl ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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