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Economists Names

This document lists the names and brief descriptions of 46 economists and their contributions to economics, including Adam Smith as the "Father of Modern Economics", J.B. Say defining economics as dealing with wealth, Karl Marx and Frederick Engels developing the concept of a socialistic economy, Alfred Marshall defining economics as the study of mankind in ordinary business and developing concepts like consumer surplus and marginal utility analysis, and John Maynard Keynes arguing that fluctuations in economic activity are due to fluctuations in aggregate demand.

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Aakansha Shaw
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3K views3 pages

Economists Names

This document lists the names and brief descriptions of 46 economists and their contributions to economics, including Adam Smith as the "Father of Modern Economics", J.B. Say defining economics as dealing with wealth, Karl Marx and Frederick Engels developing the concept of a socialistic economy, Alfred Marshall defining economics as the study of mankind in ordinary business and developing concepts like consumer surplus and marginal utility analysis, and John Maynard Keynes arguing that fluctuations in economic activity are due to fluctuations in aggregate demand.

Uploaded by

Aakansha Shaw
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Economists Names

1. Economics is a science which deals with wealth


(JB SAY)
2. Economics is what economies do (JACOB VINER)
3. Scarcity definition of economics (LIONEL ROBBINS)
4. Economics is a science (LIONEL ROBBINS)
5. Economics is neutral between ends (LIONEL ROBBINS)
6. Economics is a science of choice (LIONEL ROBBINS)
7. Economics as a study of dynamic growth and development
(LIONEL ROBBINS)
8. Book - Nature & significance of economics.
(LIONEL ROBBINS)
9. Father of Modern Economics (ADAM SMITH)
10. Wealth Definition (ADAM SMITH)
11. Book - An enquiry into the nature and causes of wealth of
nations in 1776 (ADAM SMITH)
12. Concept of Socialistic economy (KARL MARX &
FREDERICK ENGELS)
13. Giffen goods (SIR ROBERT GIFFEN)
14) Welfare definition - Economics in a study of mankind in
the ordinary business of life (ALFRED MARSHALL)
15. Concept of Normative Science - (ALFRED MARSHALL)
16. Cardinal Approach / Marginal Utility Analysis
(ALFRED MARSHALL)
17. Consumer Surplus (ALFRED MARSHALL)
18. Time Element (ALFRED MARSHALL)
19. Law of DMU (ALFRED MARSHALL)
20. Oligopoly (STIGLER)
21. Monopolistic Competition theory (CHAMBERLIN)
22. Distinction between selling cost & production
cost (CHAMBERLIN)
23. Demonstration Effect (JAMES DUESENBERRY)
24. Veblen Effect / Prestige Goods Effect.
(THORSTEIN VEBLEN)
25. Doctrine of conspicuous Consumption (THORSTEIN
VEBLEN)
26. Substitution Effect (HICKS & ALLEN)
27. Ordinal Approach / IC Analysis (HICKS & ALLEN)
28. Cobb Douglas Production function
(CW Cobb & Paul H Douglas)
29. Innovation is the true function of an
entrepreneur (SCHUMPETER).
30. Sweezy's model | Kinked Demand Curve (Paul A. Sweezy)
31. Fluctuations in economic activities are due to fluctuations
in aggregate effective
demand (KEYNES)
32. Trade Cycle is a purely monetary phenomenon
(HAWTREY)
33. Business cycles are based on psychology optimism or
pessimism (PIGOU)
34. Trade Cycles occur dies to innovations
(SCHUMPETER)
35. Business Economics (JOEL DEAN)
36. Cobweb Theory (NICHOLAS KALDOS)
37. 4 functional Goals - Production, Inventory Sales &Market
(Cyert & March)
38. Delphi Technique (OLAF HELMER)
39. Properties of Land (RICARDO)
40. Maximise Growth (RL MARRIS)
41. Satisfying Behaviour (HA SIMON)
42. Revenue Maximization (BAUMOL)
43. Maximization of Profit / Managerial Utility
(WILLIAMSON)
44. Feedback | Black Box Model (DAVID EASTON)
45. Create & Retain Customer (PETER DRUCKER)
46. Growth of Business (SAMUELSON)

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