ECONOMISTS

Economists

Economists

Compare & contrast

Adam Smith

The British philosopher and economist Adam Smith significantly boosted the development of modern economics as a science. In 1776 were published in London his research on the Nature and Causes of the Wealth of Nations, in five volumes, one of the peaks of modern economic thought. The Theory of Moral Sentiments, published in 1759, is a work deeply influenced by the utilitarianism of Bentham and Mill in which Adam Smith describes the formation of moral judgments in the context of a "natural order" of social, and builds further the principles of economic liberalism. Smith saw human behavior in the presence of a duality between reason and impulse of passion. Human nature, individualistic and rational at the same time pushes him both to confrontation and the creation of institutions to achieve the common good.

Adam Smith

David Ricardo

David Ricardo is one of the major economists. His name is called next to the name of the famous Adam Smith. But few people know that Ricardo was not a professional economist. With the economy, he met by chance. Once, visiting the public library, he turned over the work of Adam Smith's "Inquiry into the Nature and Causes of the Wealth of Nations". The book caused him great concern. Since that time, he became interested in studying political economy. This science, according to him, brought nearer to the answer to the question on which depends the material welfare of people and the state.

David Ricardo

Thomas Malthus

Malthus was born in England in the midst of an affluent rural family. Malthus's work was marked by the onset of the Industrial Revolution. His principal works are "An Essay on the law of population" (1789) and "Principles of Political Economy" (1817). With a view to defending the ruling class, above all the feudal lords, Malthus tried to explain economic inequality, misery and poverty of the working masses under capitalism turning to "natural" laws, the laws "eternal" of nature. He claimed that the population doubles every 25 years, i.e., grows geometrically, while means of subsistence in the best increase in arithmetic progression.

Thomas Malthus

Persuasive Argument

Adam Smith, as David Ricardo, was heavily involved with economic issues and thoughts. We can say that both were among liberal economists. Adam Smith was a Scottish economist and philosopher, is the founder of political economy, he analyzes the law of value and states the problem of class division. It also considers capitalism as ...