great thinkers, great ideas

Malthus and Owen 211 in a geometrical fashion i.e., population will grow in the follow­ ing progression 1,2,4, 8, 16, 62,64. But ...

212 Economic Theory: An Introduction to provide the poor with unearned money would actually increase their misery. First, Mai th ...

Malthus and Owen 213 consequences will teach the lessons of moral restraint with untempered justice. The rise and fall of popula ...

214 Economic Theory: An Introduction managing a large spinning mill. His work experience was not only successful in terms of adv ...

Malthus and Owen 215 should be removed from the family unit at an early age and educated in nurseries. A system of rewards shoul ...

216 Economic Theory; An Introduction with this system which encouraged pride in performance, pro­ duced not only happy workers, ...

Malthus and Owen 21 7 all the unions of England under one umbrella. The Grand National was not simply a union seeking higher wag ...

218 Economic Theory: An Introduction can use leverage in their buying. Laws affecting the education of young children, and metho ...

CHAPTER 24 Veblen and George: The Theory of the Leisure Class and the Single Tax Thorsten Veblen (1857-1929) Thorsten Veblen was ...

220 Economic Theory: An Introduction als was counted in terms of their trophies, which were tributes to their predatory nature. ...

Veblen and George 221 Although wealth is an important factor in pecuniary emula­ tion, there are other characteristics of the le ...

222 Economic Theory: An Introduction ties which are a part of our nature. Veblen sees the upper classes as exempt from industria ...

Veblen and George 223 theory into the discussion. Veblen considered the scientist, the inventor, the technician to be the drivin ...

224 Economic Theory: An Introduction Henry George (1839-1897) Henry George was bom in Philadelphia on September 2, His formal e ...

Veblen and George 225 three elements of distribution—rent, wages, and interest. Land and labor combine to produce wealth. Capita ...

226 Economic Theory: An Introduction for speculation. The only land that could sustain the tax would be that land which was prod ...

CHAPTER 25 Keynes and Friedman: Pump Priming and Individual Choice John Maynard Keynes (1883-1946) John Maynard Keynes was bom i ...

228 Economic Theory: An Introduction erable. Keynes died of a heart attack in 1946 and was honored in services at Westminster Ab ...

Keynes and Friedman 229 To disprove Say’s Law, Keynes points out that when wages are low in relation to prices, employers expand ...

230 Economic Theory: An Introduction ing are 1) the profit margin which business men expect from their investment (marginal effi ...