| A | B |
|---|
| Thomas Malthus | Population Principle |
| David Ricardo | Iron Law of Wages, Comparative Advantage |
| Karl Marx | working class struggle and unity |
| Frédéric Bastiat | good decisions consider "the big picture" (short-term, long-term, all people) |
| John Stuart Mill | government intervention justified with sufficient utilitarian grounds, "equality of taxation" means "equality of sacrifice" |
| David Hume | beneficial inflation, private property justified only with limited resources |
| Adam Smith | lassiez-faire capitalism |
| Thorstein Veblen | people impress others through "conspicuous consupmtion," or wasting money |
| Jean-Baptiste Say | supply creates its own demand |
| William Stanley Jevons | utility theory: measure satisfaction through consumption |
| Carl Menger | marginal utility, refuted labor theory of value |
| John Maynard Keynes | government investments justified to stiumalte the economy, founder of modern macroeconomics (econ as a whole) |
| Eugen Böhm von Bawerk (Böhm-Bawerk) | disciple of Menger, wrote Capital and Interest |
| Irving Fisher | real interest independent of monetary measures; namesake equation, hypothesis, and separation theorem |
| Milton Friedman | Monetarism, "A Monetary History of the United States, 1867-1960 (1963)" supported laissez-faire |
| John Kenneth Galbraith | Canadian, economic theories were not very influential but his liberal writings like "The Affluent Society" and "The New Industrial State" were very importiant |
| Francois Quesnay | Leader of the Physiocrats, the first systematic school of economic thought, land was ultimate source of wealth |
| Alfred Marshall | "Principles of Economics" introduced consumer surplus, quasi-rent, demand curves, and elasticity |
