HistoryChart-2-20-06 - Steve Suchora Period#4 Chart...

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Unformatted text preview: Steve Suchora Period #4 2/20/06 Chart Economic Philosophers and their Ideas 1.) Adam Smith- Wealth of Nations- An Inquiry into the Nature and Causes of the Wealth of Nations is the magnum opus of Adam Smith, published in 1776. It is a clearly written account of political economy at the dawn of the Industrial Revolution, and is widely (if perhaps incorrectly, see below) considered to be the first modern work in the field of economics. The work is also the first comprehensive defense of free market policies. It is broken down into five books between two volumes. 2.) Karl Marx – Das Kapital- is a very large treatise of political economy. The book is a critical analysis of capitalism, its economic practices and the theories which economists made about it. Marx bases his work on that of the classical economists like Adam Smith, David Ricardo, John Stuart Mill and even Benjamin Franklin. However, he reworks these authors' ideas critically and carefully, so his book is a critical and innovative synthesis that does not follow the...
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