History of economic thought

Avram Noam Chomsky is an American intellectual, philosopher, linguist, political activist, and social critic. Sometimes called "the father of modern linguistics", Chomsky is also a major figure in analytic philosophy and one of the founders of the field of cognitive science. He is a laureate professor of linguistics at the University of Arizona and an institute professor emeritus at the Massachusetts Institute of Technology (MIT). Among the most cited living authors, Chomsky has written more than 150 books on topics such as linguistics, war, and politics. In addition to his work in linguistics, since the 1960s, Chomsky has been an influential voice on the American Left as a consistent critic of the foreign policy of the United States, contemporary capitalism, and corporatocracy.

Libertarianism (from ; or from ) is a political philosophy that holds freedom, personal sovereignty, and liberty as primary values. Many libertarians believe that the concept of freedom is in accord with the non-aggression principle, according to which each individual has the right to live as they choose, as long as they do not violate the rights of others by initiating force or fraud against them.

history of economic thought

Marginalism is a theory of economics that attempts to explain the discrepancy in the value of goods and services by reference to their secondary, or marginal, utility. It states that the reason why the price of diamonds is higher than that of water, for example, owes to the greater additional satisfaction of the diamonds over the water. Thus, while the water has greater total utility, the diamond has greater marginal utility.

non-fiction work by Henry George

parable by French economist Frédéric Bastiat

economic thought or theory that contrasts with orthodox schools of economic thought

critique of central economic planning proposed by Ludwig von Mises

group of economic thinkers who share or shared a common perspective on the way economies work

schools of thought generally accepted by economists as an "orthodox" basis for discussion

political and philosophical concept

Wikimedia history article

economic policy where the government raises military spending to boost economic growth

problem in Marxian economics of finding a rule to transform values of commodities (based on labor content) into competitive prices of the marketplace

economic concept