New Ideas from Dead Economists

A new concept of a dead economist Lukas Fricke In this course we are talking about the free market and how it really makes the government different. How does it change the country? How does it change people? Today, how economics ideas and great economists, Adam Smith, Thomas Malthus, David Ricardo, John Stuart Mill, Carl Marx, John Maynard Case and Milton Friedmann have changed I will explore Taka. How to do business forever. Let's start talking about Adam Smith and its next story.

In the words of the great economist John Maynard Keynes, "the view of economists and political philosophers is stronger than generally understood, regardless of whether they are right or wrong. Indeed, the world is They think that they are not completely affected by any intellect, usually the slaves of economists who no longer exist. "

John Maynard Keynes, the most influential and important economist in the 20th century, said, "In the long run, we are all dead." This is a well - known irony in response to aggressive people. Economic intervention and other economists with its long-term effect have reservations. Keynes' meaning is very narrow, and it is lighting the temporal perspective dominated by social and economic agreements in the last century. Yes, in the long run, we are all dead and entropy collapse can not be avoided, but this attitude ignores expenses that future generations must pay. Death is not an event evenly distributed in the spacetime. In addition to the accidental political moment, there are other people to think about. It is natural that Keynes does not have children.

New Keynesian economics is a modern macroeconomic thinking born from John Maynard Keynes' philosophy. The main difference between neoclassical economists and New Keynesian economists is the speed at which wages and prices are adjusted. Neoclassical economists establish macroeconomic theory under the assumption that wages and prices are flexible. They think the market is "clear" on price. New Keynesian economists support the model of "sticky" wages and prices because they believe that the market clearing model can not account for short-term economic instability.

The idea of ​​economic stagnation is not new. It dates back to classical economists from the 18th century to the 19th century. The population theory introduced by Thomas Malthus is the foundation of the economic theory of stagnation in classical times. Karl Marx also developed a stagnation theory that extended the view of classical economists. Next, Thorstein Veblen developed his own stagnation theory. Finally, we came to Cairns and Alvin Hansen. And they developed the most advanced stagnation theory.