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Money
People
Adam Smith (1723-1790):
- Work: “The Wealth of Nations” (1776).
- Contributions: Introduced the idea of the 'invisible hand' and laid the groundwork for classical economics. Advocated for the division of labor and free market principles.
Thomas Robert Malthus (1766-1834):
- Work: “An Essay on the Principle of Population” (1798).
- Contributions: Warned that population growth would outstrip food supply, leading to inevitable famine. His views influenced discussions on population control and resource scarcity.
David Ricardo (1772-1823):
- Work: “Principles of Political Economy and Taxation” (1817).
- Contributions: Developed the theory of comparative advantage, emphasizing that countries should specialize in the production of goods they can produce most efficiently.
John Stuart Mill (1806-1873):
- Work: “Principles of Political Economy” (1848).
- Contributions: Advocated for individual freedom but recognized the necessity of state intervention in certain economic matters. Introduced ideas on utilitarianism and women's rights.
Karl Marx (1818-1883):
- Work: “Das Kapital” (1867).
- Contributions: Presented a critique of capitalism, emphasizing the inherent contradictions and class struggles. Advocated for a proletariat revolution and the establishment of a classless society.
Alfred Marshall (1842-1924):
- Work: “Principles of Economics” (1890).
- Contributions: Pioneered the neoclassical school of thought, focusing on supply and demand, and marginal utility. Emphasized the role of consumers in determining value.
Thorstein Veblen (1857-1929):
- Work: “The Theory of the Leisure Class” (1899).
- Contributions: Introduced the idea of 'conspicuous consumption' and critiqued the social values of the wealthy. Emphasized the sociological aspects of economics.
John Maynard Keynes (1883-1946):
- Work: “The General Theory of Employment, Interest, and Money” (1936).
- Contributions: Challenged classical economics and advocated for government intervention to mitigate economic downturns. His ideas laid the foundation for modern macroeconomic policies.
Joseph Schumpeter (1883-1950):
- Work: “Capitalism, Socialism, and Democracy” (1942).
- Contributions: Introduced the concept of 'creative destruction', describing how old industries are constantly being replaced by new ones. Emphasized the role of innovation and entrepreneurship in economic development.
Books
- Basic Economics - Thomas Sowell
- Freakonomics
- CFA material
- Technical Analsysis of The Financial Markets
- Encyclopedia of Chart Patterns
- Trading & Exchanges
- The E-Myth Revisited
Media
- Mark Meldrum
- Company Man
- Asianometry