Sentences with phrase «classical economists»

The great classical economists were able to stay focused on the big picture and had broad concerns for humanity and its overall success and happiness.

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

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

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.

Menger proposed the «Subjective Theory of Value,» which stated that the price of a given service or good was NOT the cost to produce it (as proposed by classical economists), but the subjective price that someone was willing to pay.

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.

Western observers are reluctant to acknowledge the degree to which China is aiming to achieve the kind of «free markets» that classical economists defined as making economies more efficient and competitive: taxing and regulating the rentier interests whose rent and interest have burdened the Western economies since medieval times.

As Andy suggests with Adam Smith, and as I've suggested with other classical economists such as Malthus, David Ricardo, and John Stuart Mill, these folks had wide - ranging minds and saw the world in very different and more complex terms than do modern economists.

Even classical economists sometimes doubted whether it was safe to assume real people were so cunning and calculating.

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.

When the great classical economists spoke of a «free market,» they meant a market free from rentier classes, free from monopolies and above all free from predatory bank credit.

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

But today's national income and product accounts accepts this idea as if it is natural, and even in line with what Adam Smith, Mill and their fellow classical economists were saying.

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.

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.

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

Even as classical economists and every politician, local and national alike, continue to hold onto the idea that the solution to every social problem under the sun is more economic growth, there's thankfully an increasing amount of pushback, on environmental grounds.

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.

H: It is more a perverse pro-financial bias of development, a malformation — the opposite of what the classical economists hoped to see.

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.

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.

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.

There are many things that classical economists could like that have happened.

And that's what all of the classical economists were talking about.

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.»

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.

Nevertheless, the theory developed by the classical economists supports the globalization, including the privatization, that is now occurring.

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.

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

Rather, the emphasis on economic growth took over, and most economists have never looked back (nor read any of the classical economists very closely).

If every dollar invested represented a dollar previously saved we would restore the classical economists» balance between investment and abstinence.

Framing taxes on carbon pollution as an embodiment of the «polluter pays» principle unites interests as diverse as environmental - justice advocates, free - market conservatives and classical economists.

e., treating different piles of money with different intentions (as much as a classical economist might scoff at that),» Dubner says.