Adam Smith
Adam Smith (16 June 1723 NS – 17 July 1790) was a Scottish moral philosopher, pioneer of political economy, and key Scottish Enlightenment figure.Smith is best known for two classic works: The Theory...
Adam Smith - Wikipedia
The Theory of Moral Sentiments
The Theory of Moral Sentiments is a 1759 book by Adam Smith. It provided the ethical, philosophical, psychological, and methodological underpinnings to Smith's later works, including The Wealth of Na...
The Wealth of Nations
An Inquiry into the Nature and Causes of the Wealth of Nations, generally referred to by its shortened title The Wealth of Nations, is the magnum opus of the Scottish economist and moral philosopher A...
The Wealth of Nations - Wikipedia
Circulating capital
Circulating capital includes intermediate goods and operating expenses, i.e., short-lived items that are used in production and used up in the process of creating other goods or services. This is roug...
John Elliott Cairnes
John Elliott Cairnes (26 December 1823 – 8 July 1875) was an Irish economist. He is often described as the "last of the classical economists".
John Cairnes was born at Castlebellingham, County Lou...
John Elliott Cairnes - Wikipedia
Ricardian socialism
Ricardian socialism is a branch of classical economic thought based upon the work of the economist David Ricardo (1772–1823). The term is used to describe economists in the 1820s and 1830s who develop...
Use value
Use value or value in use is the utility of consuming a good—the want-satisfying power of a good or service in classical political economy. In Marx's critique of political economy, any product has a l...
Robert Torrens (economist)
Colonel Robert Torrens (1780, Hervey Hill, Derry – 27 May 1864, London) was a Royal Marines officer, political economist, MP, owner of the influential Globe newspaper and prolific writer. Born i...
Robert Torrens (economist) - Wikipedia
Neoclassical economics
Neoclassical economics is a term variously used for approaches to economics focusing on the determination of prices, outputs, and income distributions in markets through supply and demand, often media...
James Mill
James Mill (6 April 1773 – 23 June 1836) was a Scottish historian, economist, political theorist, and philosopher. He was a founder of classical economics, together with David Ricardo, and the f...
James Mill - Wikipedia
Treasury view
In macroeconomics, particularly in the history of economic thought, the Treasury view is the assertion that fiscal policy has no effect on the total amount of economic activity and unemployment, even ...
Neo-Ricardianism
The neo-Ricardian school is an economic school that derives from the close reading and interpretation of David Ricardo by Piero Sraffa, and from Sraffa's critique of neo-classical economics as present...
Primitive accumulation of capital
In Marxist economics and preceding theories, the problem of primitive accumulation (also called previous accumulation, original accumulation) of capital concerns the origin of capital, and therefore o...
Primitive accumulation of capital - Wikipedia
David Ricardo
David Ricardo (18 April 1772 – 11 September 1823) was a British political economist. He was one of the most influential of the classical economists, along with Thomas Malthus, Adam Smith, and James Mi...
David Ricardo - Wikipedia
John Stuart Mill
John Stuart Mill (20 May 1806 – 8 May 1873) was a British philosopher, political economist and civil servant. He was an influential contributor to social theory, political theory and political economy...
John Stuart Mill - Wikipedia
Say's law
Say's law, or the law of markets, is the controversial assertion, found in classical economics, that aggregate production necessarily creates an equal quantity of aggregate demand. It was stated by th...
Thomas Robert Malthus
The Reverend Thomas Robert Malthus FRS (13 February 1766 – 29 December 1834) was an English cleric and scholar, influential in the fields of political economy and demography. Malthus himself used...
Thomas Robert Malthus - Wikipedia
Criticisms of the labour theory of value
Criticisms of the labor theory of value often arise from an economic criticism of Marxism.
Adherents of neoclassical economics, the currently predominant school, employ the theory of marginalism,...
Frédéric Bastiat
Claude Frédéric Bastiat ([klod fʁedeʁik bastja]; 29 June 1801 – 24 December 1850) was a French classical liberal theorist, political economist, and member of the French assembly. He was notable for d...
Frédéric Bastiat - Wikipedia
Labor theory of value
The labor theory of value (LTV) is a heterodox economic theory of value that argues that the economic value of a good or service is determined by the total amount of socially necessary labor required ...
Exchange value
In political economy and especially Marxian economics, exchange value refers to one of four major attributes of a commodity, i.e., an item or service produced for, and sold on the market. The other th...
Jean-Baptiste Say
Jean-Baptiste Say ([ʒãbatist sɛ]; 5 January 1767 – 15 November 1832) was a French economist and businessman. He had classically liberal views and argued in favor of competition, free trade, and liftin...
Jean-Baptiste Say - Wikipedia
Thomas Joplin
Thomas Joplin (1790?–1847) was an English timber merchant and banker.
He was born about 1790 in Newcastle-upon-Tyne, the second son of the timber merchant Thomas Joplin, who died in 1808. He was i...
Thomas Joplin - Wikipedia
Gustave de Molinari
Gustave de Molinari (3 March 1819 – 28 January 1912) was a political economist and classical liberal theorist born in Belgium associated with French laissez-faire economists such as Frédéric Bastiat a...
Gustave de Molinari - Wikipedia
Edward Gibbon Wakefield
Edward Gibbon Wakefield (20 March 1796 – 16 May 1862) was a British politician, the driving force behind much of the early colonisation of South Australia, and later New Zealand.Wakefield, who in 1816...
Edward Gibbon Wakefield - Wikipedia
Classical economics
Classical economics is widely regarded as the first modern school of economic thought. Its major developers include Adam Smith, Jean-Baptiste Say, David Ricardo, Thomas Malthus and John Stuart Mill.A...