REPRESENTATIVE DEMOCRACY & History of Economics and Ethics

Scottish philosopher Adam Smith is often cited as the father of modern economics for histreatise The Wealth of Nations (1776).^[1][2] His ideas built upon a considerable body of work from predecessors in the eighteenth century particularly the Physiocrats. His book appeared on the eve of the Industrial Revolution with associated major changes in the economy.^[3]

• 1 Early economic thought
  • 1.1 Aristotle
  • 1.2 Middle Ages
• 2 Mercantilists and nationalism
  • 2.1 Thomas Mun
  • 2.2 Philipp von Hörnigk
  • 2.3 Jean-Baptiste Colbert
• 3 British enlightenment
  • 3.1 John Locke
  • 3.2 Dudley North
  • 3.3 David Hume
  • 3.4 Francis Hutcheson
• 4 The circular flow
• 5 Adam Smith and The Wealth of Nations
  • 5.1 Context
  • 5.2 The invisible hand
  • 5.3 Limitations
• 6 Classical political economy
  • 6.1 Jeremy Bentham
  • 6.2 Jean-Baptiste Say
  • 6.3 Thomas Malthus
  • 6.4 David Ricardo
  • 6.5 John Stuart Mill
• 7 Capitalism and Marx
  • 7.1 Context
  • 7.2 Das Kapital
  • 7.3 After Marx
• 8 Neoclassical thought
  • 8.1 Marginal utility
  • 8.2 Mathematical analysis
• 9 Austrian school
  • 9.1 Early Austrian economists
  • 9.2 Ludwig von Mises
  • 9.3 Friedrich von Hayek
  • 9.4 Murray Rothbard
• 10 Depression and reconstruction
  • 10.1 John Maynard Keynes
  • 10.2 The General Theory
  • 10.3 Keynesian economics
• 11 The "American Way"
  • 11.1 Institutionalism
  • 11.2 John Kenneth Galbraith
  • 11.3 Paul Samuelson
  • 11.4 Kenneth Arrow
• 12 Monetarism and the Chicago school
  • 12.1 Ronald Coase
  • 12.2 Milton Friedman
• 13 Global times
  • 13.1 Amartya Sen
  • 13.2 Joseph E. Stiglitz
  • 13.3 Paul Krugman
• 14 Contemporary economic thought

http://en.wikipedia.org/wiki/History_of_economic_thought.wikipedia.org-History_of_economic_thought

REPRESENTATIVE DEMOCRACY

Capitalism and Marx

Capitalism and Marx

Main article: Marxian economics

Karl Marx provided a fundamental critique of classical economics, based on the labour theory of value.

Just as the term "mercantilism" had been coined and popularised by its critics, like Adam Smith, so was the term "capitalism" or Kapitalismus used by its dissidents, primarily Karl Marx. Karl Marx (1818–1883) was, and in many ways still remains the pre-eminent socialist economist. His combination of political theory represented in the Communist Manifesto and the dialectic theory of historyinspired by Friedrich Hegel provided a revolutionary critique of capitalism as he saw it in the nineteenth century. The socialist movement that he joined had emerged in response to the conditions of people in the new industrial era and the classical economics which accompanied it. He wrote his magnum opus Das Kapital at the British Museum's library.

http://en.wikipedia.org/wiki/History_of_economic_thought#Capitalism_and_Marx