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Economics and the Market Economy
The Early Days
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achieve Adam Smith agriculture American analysis argued argument basic became big business business cycles capital accumulation capitalist century classical economics classical economists commodity competitive conflict consumer David Ricardo demand depression developed economic activity economic growth economic policies economic theory emphasized England English equilibrium expansion exports forces free market full employment goals human ideas ideological important increase individual industrial inflation investment John Maynard Keynes Keynes Keynesian Keynesian economics laissez faire less-developed countries liberal major Malthus market economy market socialism Marx Marx's Marxist ment mercantilist modern money supply monopoly natural neoclassical economics nomic output philosophy physiocrat political population private enterprise problems profits promote prosperity rate of interest reduced reform relationships result Revolution Ricardo rise savings Say's Law sector social socialist society Soviet surplus taxes theoretical tion trade unions United Veblen wages wealth welfare workers