Sentences with phrase «as classical economists»

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

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.

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.

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

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.

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

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

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.

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