He lived 1766 to 1834 and said that population increases until limited by environment.
He lived 1772 to 1823 and studied rents and agriculture and invented labor theory of value and growth. Land scarcity as population increases causes diminishing returns from agriculture, so food prices rise relative to other prices. Workers wages rise and reduce profit rates. With no incentive for investing, output, capital, and labor remain constant from then on. Rising wages cause even higher population and bring wages back down to subsistence level. Rents depend on land agricultural uses.
He lived 1842 to 1924 and invented equation relating money supply to income, utility and cost pricing {Cambridge equation, Marshall}.
He lived 1848 to 1923 and studied social stability, talent, and governing class. If people have defined preferences between all good and service pairs, Pareto optimum goods-and-services distribution happens, if no one person can satisfy more preferences while leaving other people the same.
Politics
People's emotions or beliefs {residues}, of which there are six types, cause actions, which people then justify {derivations}. Residues include need to associate with others, need to maintain social groups, and tendency to combine things.
He lived 1857 to 1929.
He lived 1883 to 1946 and studied marginal propensities. He suggested deficit spending to expand economy.
Epistemology
If alternatives have no known probabilities, they receive equal probability {indifference principle} {insufficient reason principle} {principle of indifference} {principle of insufficient reason}. This principle is not true because, if all probabilities are equal, people cannot learn from experience.
He lived 1895 to 1973 and started econometrics. He invented econometric time series [1927], impulse-propagation business cycles [1933], econometric linear regression analysis [1934], and production theory [1965].
He lived 1903 to 1994 and invented first national-economy model [1937].
He lived 1906 to 1999 and studied input-output analysis. USA exports labor-intense goods and imports capital-intensive goods {Leontief paradox} [1953]. It is because USA had trade surplus.
He lived 1904 to 1965 and advocated market socialism.
He lived 1883 to 1950 and studied entrepreneurs, innovation, and economic development. Capitalists manage, save, take risks, and supervise. Capitalists can save profits. Capitalists are at risk from business failure or trouble but have ownership as cushion. Capitalists use their social and economic power to get the most rewards and try to minimize rewards to workers. Capital tends to accumulate but has unfair distribution. Management can decentralize. Workers can supervise workers. Workers are at risk from business failure or trouble but have no ownership as cushion and cannot save profits.
He lived 1901 to 1985, found Kuznets business cycles, and studied national income growth.
He lived 1915 to ?.
He lived 1921 to ? and invented Arrow social welfare theorem. All markets balance supply and demand if in competitive equilibrium {general equilibrium theory}.
Individuals typically have preference orders among candidates when voting or among products and services when buying. Similarly, groups have preference orders among candidates or products and services. Individuals cannot significantly affect group preferences, because no person has significantly greater wealth, power, or influence than other people. Group preferences typically are sums of individual preferences, because votes or purchases add. Preferences can be independent. If these conditions are true, no method exists that guarantees that group preference order is consistent with sum of individual preference orders {voting paradox, Arrow} {Arrow paradox}.
He lived 1921 to ? and studied general equilibrium models {Arrow-Debreu model}, working with Kenneth Arrow [1954]. He worked on First and Second Welfare theorems [1951 and 1954], utility function for preference ordering [1954], quasi-equilibrium [1962], unique equilibria [1970], smooth preferences {differential calculus for economics} [1972], and core convergence rate [1975]. He made core convergence theorem [1962 to 1963], with Herbert Scarf. His market demand functions [1974] resulted in Debreu-Sonnenschein-Mantel theorem.
He lived 1912 to 2006, studied money supply and free markets, and suggested negative income tax. Capitalism is the most-efficient economic system. Capitalists manage, supervise, assume risks, and save. Capitalism provides individual economic and social freedom.
He lived 1924 to ? and studied growth [1956 to 1970]. He helped make constant elasticity-of-substitution production function [1961]. He studied long-run multiplier [1973].
He lived 1908 to ? and studied government social policy.
He lived 1919 to 2005.
He lived 1933 to ?. Value does not depend only on individual preferences {welfarism}. Goodness depends on people's average well-being {outcome utilitarianism}.
He lived 1930 to ? and invented a theory {theory of reflexivity} {reflexivity theory}.
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Date Modified: 2022.0225