Sentences with phrase «many classical economists»

Classical economist David Ricardo posited that if citizens observed their government issuing more bonds, they'd reduce spending in anticipation of higher subsequent taxes when those bonds had to be repaid.

Classical economists assume consumers are impressive indeed, and this stems from their love affair with a creature as elusive as the New Consumer himself: Homo economicus.

Classical economists argued that this ex post balance would occur in a way that kept the economy quite stable at full employment.

Although it does not adjust as fast as classical economists envisioned, in the United States prices and wages respond relatively quickly.

We begin with an analysis of the continuing bailout of insurance giant AIG and Monday's stock market selloff; price and debt deflation; the two sectors of the economy; two definitions of «free markets»; the classical economists; revolution from the right and the former Soviet states; the threat of war; IMF / World Bank resurgence; the dollar versus the euro; analogies to Rome, neo-feudalism.

HEDGES: And then the classical economists like Adam Smith were quite clear that unless that rentier income, you know, the money made by things like hedge funds, was heavily taxed and put back into the economy, the economy would ultimately go into a kind of tailspin.

All this was viewed (by classical economists) as something that government regulators should get rid of, either by not permitting it in price, or by holding the monopolies in the public domain, or by the land itself being either nationalized or taxed.

This is the classical economist's view of the world, and it should be taken seriously.

The classical economists divided almost the entire economy into productive and unproductive labor, into wealth, and overhead, into real income and costs.

MH: It's exactly the opposite of what Adam Smith, and Ricardo and the classical economists defined as a free market.

If one breaks down employment by sector, the statistics show that employment in manufacturing and other sectors that classical economists called «productive» — primary production in agriculture and mining, secondary production in industry, power production and transportation — has not risen since 1929.

A century ago when the classical economists, Adam Smith, John Stuart Mill, in the reform era, tried to say look, there are some incomes that are not earned.

Many classical economists also treated land as a factor of production, but it is rather a property right.

Classical economists were careful to define the term «profit» to mean a gain made by investing in plant and equipment (capital) and hiring labor to produce goods to sell at a markup.

This is not the view of real wealth and economic growth that 19th - century classical economists had in mind when they set out to reform the economy by freeing markets from the claims of earned income and special interests.

And there's another reason for that — that all reformers — the classical economists were reformers.

The classical economist David Ricardo translated momentum into investment terms with the oft quoted phrase, «Cut your losses; let your profits run on.»

How classical economists hoped to modernize banks as agents of industrial capitalism Britain was the home of the Industrial Revolution, but there was little long - term lending to finance investment in factories or other means of production.

Although the classical economists pointed this out in order to support national markets over against local ones, the argument works equally well for a global market over against national ones.

While the common - sense Lockian version was the most pervasive current of American thought has not been fully conscious of these implications, the relation between utilitarianism and Anglo - American social science has been close and continuous from Hobbes and Locke to the classical economists of the 18th and early 19th centuries to the social Darwinists of the late 19th century and finally to such influential present - day.

The classical economists are responsible for the general disenchantment of the Kerala people with the Kerala model of development.

Leonard E. Reed wrote in Castles in the Air: There was a word that I always liked; the classical economists used it: liberal.

The classical economist David Ricardo translated momentum into investment terms with the oft quoted phrase, «Cut your losses; let your profits run on.»

The usual mitigation against this shortcoming has been regulation — which you and many other classical economists oppose.

The Classical Economists already laid it out long ago, especially John Stuart Mill.

Michael # 29, the classical economists of the 18th and 19th centuries (Adam Smith, David Ricardo, Thomas Malthus, John Stuart Mill) all wrestled with the problem of limits to growth and came up with scenarios for the human future ranging from extreme pessimism (Malthus) to optimism (John Stuart Mill's expectation that at a certain stage of economic development human society would cease to grow in material scale and reach a «stationary state» where the emphasis would be on qualitative human, social and cultural development.

It has far more in common with romantic conservatism, and classical economists such as Malthus than it does with any «Left» tradition.

Not exact matches

But then again, the father of classical economics, Adam Smith, wasn't an «economist» (as «economics» wasn't a distinct academic field in his times) but a professor of moral philosophy at Glasgow University.

In this episode of teleSUR's Days of Revolt, Chris Hedges interviews economist Michael Hudson on the history of classical economics and explores Marx's interpretation of capitalism as exploitation — March 22, 2016

Sociologists, historians and feminist economists, by contrast, have long - known that the neo classical assumption that families approximate individuals in their economic behaviour is bunk.

However, classical liberal economists think the Fed is unnecessary and that its interventions distort markets, yielding negative consequences.

Also you quote Von Mises, that although a great economist and defender of classical liberalism, he was also contemporary to the its decline in US (after a series of economic depressions).

Claude Frédéric Bastiat (French: [klod fʁedeʁik bastja]; 30 June 1801 [1]-- 24 December 1850) was a French classical liberal theorist, political economist, and member of the French assembly.

Some 200 years ago, the classical British economist David Ricardo advised investors to «cut short your losses» and «let your profits run on.»

This has similarly been a central message of the great free - market Austrian School economists, most notably Ludwig von Mises (another personal classical liberal icon), who in his 1949 magnum opus Human Action claimed:

Thomas Malthus was not «Left», he was a classical liberal political economist.

A history lesson for Monbiot should begin with Malthus, a disciple of Adam Smith, the classical political economist.