In this class we constantly talked about the free market place and how it truly made a government different. How it made a country different. How it made a people different. Today, we are going to explore the ideas of economics and how the economic greats, Adam Smith, Thomas Malthus, David Ricardo, John Stuart Mill, Karl Marx, John Maynard Keyes, and Milton Friedman changed the ways we would forever do business.
Let’s get started with Adam Smith and his second coming. Adam smith was one of the greatest economics minds that have ever existed, teaching us that our wealth is not just in gold and silver but in the products that we produce and commerce we engage in! Much like today we can understand the idea of Gross National Product and how we can better adjust our habits and ourselves. Smith unlike most economists of that age understood the value in hard work and social aspect behind our decisions.
The United States Government has expected this same mantra when formulating the Consumer Preference Index to help adjust interest rates and overall rates that help dictate our lives day to day. The idea of the invisible hand can truly be seen in the methodology accepted by the farmers of the constitution and creating a governmental system that relies on nature, people opinions, and the mysterious ways of human psychology to help formulate our laws, health, economy and lives.
Now, the ideas of Thomas Malthus generally do not apply to the world today. It is important to understand that Malthus wanted to create a theory that explained the success of people in a population. Like Darwin’s theory of evolution (which was helped formed by Malthus doctrine) it is survival of the fittest. I do bel...
... middle of paper ...
... economic system, one that needs no interference, and needs to type of larger organization involvement.
So what have we learned throughout our time reading New Ideas of Dead Economists?
I personally have learned the idea, importance, and above all: luxury of not having a larger entity forcing and playing my opinions and decisions. All of these economists are know for pushing the envelope and working to change the ideas of modern governments such as the United States of America. Their work has put the US on top for freedom and the ability to truly be different and more open in its business dealings.
So we looked at being different and the importance of working through the why we do things the way we do with items and services. If not, we learned, who we are and why we buy, more than what we are and where we buy – something most like to perceive economics to be.
Need Writing Help?
Get feedback on grammar, clarity, concision and logic instantly.Check your paper »
- Before the introduction of Keynesian economics and Milton Friedman’s Monetarism theory, there was classical economics. These economists believed in self-adjusting market mechanisms, however with that the market needs perfect competition. Wages and prices in the market must be flexible. These economists believe that supply and demand pulls would always help the economy reach full employment. Full employment could be achieved by the market forces and with that changes the level of employment resulting in a fixed income and aggregate output.... [tags: Milton Friedman]
2621 words (7.5 pages)
- All the twelve great economists had great contributions to economics and they all showed great enthusiasm in studying economics. There were some differences between their concepts of economics, but all of these concepts built up the basic ideas of the economics we studied today. There were several criterion employed in ranking the economists. First of all, the economist should have great influences in economics. He / she should have substantial theories which could be applied in the real world and could be used as reference to other economists.... [tags: Economics Reflective]
1399 words (4 pages)
- ... Of course not, it was from the Queen and the new King. This leads to the idea: are people ever really in charge of themselves. If they are, is it rational and meaningful. Freedoms from evil, containment, emotions, even you. When a human is born, they have no choice in anything. What is they are fed, how they are clothed, what language is taught, who they meet, or even who the parents are. No one is given the choice to anything in their lives. Will their decisions in life affect others. Is there such thing as freedom.... [tags: freedom, cave, language]
517 words (1.5 pages)
- The Stagecraft of Rosencrantz and Guildenstern are Dead “…a poor player, that struts and frets his hour upon the stage, and then is heard no more…” This quote from Macbeth is a perfect summary of the plot of Rosencrantz and Guildenstern are Dead. The dramatisation of the lives of these two unremarkable and virtually extraneous characters from Hamlet is an unlikely foundation for “one of the most…engaging of post-war plays” (Daily Telegraph). However, as with Samuel Beckett’s absurdist play “Waiting for Godot” the originality of Stoppard’s concept is not enough in itself to create a masterpiece and it is the brilliance of the stagecraft and writing that establishes this play a... [tags: Rosencrantz and Guildenstern are Dead Essays]
1186 words (3.4 pages)
- There are many types of people in this world. Some are out going, loud and brave, some are quiet and observant and the rest are just crazy. How does one change who they are. That's easier said than done. A lot of situations can change a person though, I call them lessons learned in life. If a girl got her heart broken because her boyfriend cheated on her, she will hate men and not trust them or give herself wastefully to anybody. That is an example of a scar that a lot of individuals experience in their lives.... [tags: Dead Poets Society]
1104 words (3.2 pages)
- Analysis of The Dead by James Joyce James Joyce's significantly titled story “The Dead” is about a dead generation and society of people. Joyce’s decision to add Gretta’s reminiscing with the dead Michael Furey in “The Dead” is extremely important. Perhaps if Joyce decided to end the story after Gabriel’s speech or the setting up of the dinner party, we would still be left with a very pleasant short story. However, Joyce continues on with a significant encounter of the dead Michael Furey that uncovers a side Gabriel has never recognized of himself.... [tags: The Dead James Joyce Literature Essays]
482 words (1.4 pages)
- Reader Response to Joyce's The Dead James Joyce's story "The Dead" has a tremendous impact on the readers, especially those who are familiar with the political situation in Ireland at the time about which the Joyce wrote the final story in Dubliners. In exploring the meaning of James Joyce's long short-story, "The Dead", there are many critical approaches to take. Each approach gives readers a lens, a set of guidelines through which to examine and express ideas of the meaning of "The Dead." Joyce himself said that the idea of paralysis was the intended theme of all the stories in The Dubliners of which "The Dead" is the final story.... [tags: Joyce Dead Essays]
1068 words (3.1 pages)
- Dead Man's Path by Chinua Achebe A story about the clash of two sets of values ============================================= This story by Chinua Achebe presents the conflict between world-views and value systems. Dead Man's Path is set in Nigeria in 1949. It is on the subject of a man named Michael Obi who is the new, enthusiastic and wholehearted headmaster of an underprivileged and disadvantaged school. This story explores the effects of European customs and beliefs on traditional African culture.... [tags: Papers Dead Mans Path]
865 words (2.5 pages)
- The Dead Father Jerome Klinkowitzís remarkably insightful review of Donald Barthelmeís work begins with an anecdote about an evening they spent together in Greenwich Village (Barthelmeís home for most of his life as a writer), and how a perfectly Freudian remark by Barthelmeís wife put a stop to the writerís boorish mood:ìëWhy Donald,í she said, ëyour fatherís is bigger than yours.íShe was referring to their respective biosin Whoís Who in America.î It is Klinkowitz's well-argued contention that Barthelmeís mid-career novel The Dead Father (1975) not only represents the high-water mark of his skill as a technical master of postmodern prose, but that it also embodies the central neurosis/in... [tags: The Dead Father Donald Barthelmeis Essays]
920 words (2.6 pages)
- The Living Dead Since the beginning of film, people have been spellbound by horror movies. They seem to excite the viewer with emotions of fright, excitement and thrill. And since there have been horror movies there have been monsters to bring fright to the viewers during and after the movie. A common monster that can be found in multiple films is the zombie; also know as the living dead. One of the greatest living dead directors and screenplay writers would have to be George A. Romero. From his famous trilogy of living dead movies his final installment, Day of the Dead, proved to the world that zombies can be just as scary as any other horror monsters.... [tags: The Return of the Living Dead Horror Films Essays]
1485 words (4.2 pages)