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Philosophers,Books, Ideas and more

Meriem B.

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1.1.If demand increases and supply remains unchanged, a shortage occurs, leading to a higher equilibrium price.2.If demand decreases and supply remains unchanged, a surplus occurs, leading to a lower equilibrium price.3.If demand remains unchanged and supply increases, a surplus occurs, leading to a lower equilibrium price.4.If demand remains unchanged and supply decreases, a shortage occurs, leading to a higher equilibrium price.
7.Adam Smith's way to describe the self-regulating behavior of the marketplace. Individuals can make profit, and maximize it without the need for government intervention.
8.Man who questioned unregulated capitalism, utilitarian, happiness and consequentialism.
10.Man who believed in comparative advantage, labor theory of value, theory of rent, permanent underclass, the inescapable cycle between an underclass and lower wages.
13.http://www.econlib.org/library/Enc/bios/Malthus.html http://www.bbc.co.uk/history/historic_figures/malthus_thomas.shtml http://www.econlib.org/library/Enc/bios/Ricardo.html 5-9 Worksheet http://www.davidricardo.org/ http://www.iep.utm.edu/bentham/
14.Thomas Malthus wrote this book
15.This is a school of economic thought that emphasizes the role of governments in controlling the amount of money in circulation.
2.Man who wanted a free market. He wanted no government. He wanted businesses to be independent. He believed in absolute advantage, the law of supply and demand, also the invisible hand. Wrote the book “The Wealth of Nations”
3.David Ricardo wrote this, topics include economy and taxation
4.Man who believed in the never ending cycle of more food=more people. Believed that society would eventually reach overpopulation. Reduce people, stabilize food.
5.He wanted Utilitarianism. He said people should judge ideas, institutions and actions based on usefulness. He famously held a hedonistic account of both motivation and value according to which what is fundamentally valuable and what ultimately motivates us is pleasure and pain.
6.Man who believed that businesses should be owned by the government. He fought for social justice, he was pro socialism.
9.Adam Smith wrote this book
11.Social reformer, Man who was the founder of the utopian socialism and the cooperative movement. He was “peace out”.
12.Man who wanted the people to control everything. He wanted a revolt of the working class. He wanted communism. Wrote the book “Communist Manifesto”. He wanted no more private property, everything equal.

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