Study sets matching "david ricardo"

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Study sets matching "david ricardo"

David Ricardo
Jeremy Bentham
Jean-Baptiste Say
Utilitarianism
Government
British theorist and philosopher known for his work, Principl…
A French economist that lived during the 19th century. Popula…
A theory associated with Jeremy Bentham that is based upon th…
Bentham argued that __________ needed to set incentives leadi…
Jeremy Bentham
British theorist and philosopher known for his work, Principl…
Jean-Baptiste Say
A French economist that lived during the 19th century. Popula…
10 terms
David Ricardo
Background
Workers, capitalists, landlords
Sheep, dogs, pigs
The Escalator/Elevator
Falls close to Malthus & friends. Concerned w/who gets what i…
3 things he viewed economy. Shaped (-) views of marketplace v…
George Orwells book, "Animal Farm" ... Sheep: workers: work all…
Smith says that capitalism is an escalator. As economy improv…
Background
Falls close to Malthus & friends. Concerned w/who gets what i…
Workers, capitalists, landlords
3 things he viewed economy. Shaped (-) views of marketplace v…
David Ricardo
Mercantilism
zero-sum gain
bullionism
Absolute Advantage
is a social substance that appears in a series of material fo…
one nation gains at the expense of the other ,... denying forei…
the belief that that quantities of gold and silver were the m…
When one nation is more efficient than another in the product…
Mercantilism
is a social substance that appears in a series of material fo…
zero-sum gain
one nation gains at the expense of the other ,... denying forei…
David Ricardo
David Ricardo
David Ricardo
David Ricardo
David Ricardo
(1772-1823)
Asks: Who gets what in a market economy? Distribution of goods
Dutch/Jewish ancestry; grew up in Britain during the heyday o…
Questioned the economic models of Adam Smith and the ability…
David Ricardo
(1772-1823)
David Ricardo
Asks: Who gets what in a market economy? Distribution of goods
18 terms
David RIcardo
workers, capitalists, and landlords
Corn Laws
What concept does Ricardo put down tha…
What are the three groups in Society t…
Ricardo was Dutch, born in England, and part Jewish. He looke…
Great Britain passed these to protect the landlords. They put…
Comparative advantage
Landowners... Capitalists... Workers
workers, capitalists, and landlords
Ricardo was Dutch, born in England, and part Jewish. He looke…
Corn Laws
Great Britain passed these to protect the landlords. They put…
21 terms
David Ricardo
What were Ricardo's main contributions?
Explain the theory of rent
What are his two assumptions?
What is net produced and how is it det…
Theory of rent... Labor theory of value... Comparative advantage
When land is abundant and we are cultivating the best land, t…
1. Lands differ in fertility and you can organize land from l…
Net produced = total produced - wages = rent + profits
What were Ricardo's main contributions?
Theory of rent... Labor theory of value... Comparative advantage
Explain the theory of rent
When land is abundant and we are cultivating the best land, t…
12 terms
David Ricardo
David Ricardo (1772-1823)
workers, capitalists, landlords
Capitalists
landlords
Also questioned Smith's... · Looked at how market economy distr…
diff categories of industrial world; Reduced world into 3 gro…
plant managers, make sure company makes profit They reinvest…
essentially skim off top regardless of how economy is doing…
David Ricardo (1772-1823)
Also questioned Smith's... · Looked at how market economy distr…
workers, capitalists, landlords
diff categories of industrial world; Reduced world into 3 gro…
David Ricardo
Brief background on him?
What sort of reasoning did Reicardo use?
What concept does he put down that cha…
What is Ricardian Vice?
He was a good friend of Malthus, he grew up on lumbar street…
He used deductive reasoning without referring to fats or inst…
Comparative advantage
He avoided details, he focused on few variables and relyed up…
Brief background on him?
He was a good friend of Malthus, he grew up on lumbar street…
What sort of reasoning did Reicardo use?
He used deductive reasoning without referring to fats or inst…
8 terms
David Ricardo
What are the three contributions of Da…
Explain theory of rent
When do profits decrease?
What happens to wages in the long run?
Theory of rent... Labor theory of value... Labor theory of Comparat…
When rent is abundant, and it is all fertile, it is free.... As…
As we bring in less fertile land and the wage rates remain th…
Both the natural price of labor and nominal wages rise becaus…
What are the three contributions of Da…
Theory of rent... Labor theory of value... Labor theory of Comparat…
Explain theory of rent
When rent is abundant, and it is all fertile, it is free.... As…
David Ricardo
Él no era académico como Smith
Libro
Él le cambió el nombre al egoísmo del…
Economía política
Era empresario
"Principios de economía política y tributación"
Le puso homo oeconomicus
La economía influye en la política. Aunque en ese tiempo los…
Él no era académico como Smith
Era empresario
Libro
"Principios de economía política y tributación"
David Ricardo
¿Cuándo & dónde nació David Ricardo?
Obras principales
¿Qué estudió principalmente David Rica…
Aportación más importante
El 18 de abril de 1772 en Inglaterra
*principios de económia política & tributación... *Ley de los re…
Se propuso a entender las leyes que riguen la distribución de…
Los rendimientos decrecientes en la producción de la tierra
¿Cuándo & dónde nació David Ricardo?
El 18 de abril de 1772 en Inglaterra
Obras principales
*principios de económia política & tributación... *Ley de los re…
40 terms
David Ricardo Questions
Explain the theory of rent
When do profits decrease
What is profit eqn?
Explain why rent is not directly respo…
- land differs in fertility on a spectrum... - rent arises out o…
- as less fertile land is cultivated, the rent in earlier plo…
net produce - rent
because increase in cost of corn and wage rate does
Explain the theory of rent
- land differs in fertility on a spectrum... - rent arises out o…
When do profits decrease
- as less fertile land is cultivated, the rent in earlier plo…
David Ricardo (capitalist)
economic theorist
corn laws
investment
labor theory of value
someone who has ideas and principles aim to describe how econ…
imposed restrictions on tariffs on imported grain and foreign…
purchase of goods that are not consumed today but are used in…
argues that the economic value of a good or service is determ…
economic theorist
someone who has ideas and principles aim to describe how econ…
corn laws
imposed restrictions on tariffs on imported grain and foreign…
18 terms
SFQT ~ Economics: David Ricardo
workers, capitalists, and landlords
Corn Laws
What concept does Ricardo put down tha…
What are the three groups in Society t…
Ricardo was Dutch, born in England, and part Jewish. He looke…
Great Britain passed these to protect the landlords. They put…
Comparative advantage
Landowners... Capitalists... Workers
workers, capitalists, and landlords
Ricardo was Dutch, born in England, and part Jewish. He looke…
Corn Laws
Great Britain passed these to protect the landlords. They put…
Econ 107 David Ricardo
1) Explain the theory of rent
2) When do profits decrease?
3) What is the economic basis for the…
4) Explain why rent is not directly re…
In a newly settled country, no one pays rent because it is ab…
As long as net produce with less fertile land is brought unde…
Suppose the wage rate is above the subsistence level because…
Rent increases the cost of labor created by the increase in t…
1) Explain the theory of rent
In a newly settled country, no one pays rent because it is ab…
2) When do profits decrease?
As long as net produce with less fertile land is brought unde…
6 terms
Econ 107 David Ricardo
1) Explain the theory of rent
2) When do profits decrease?
3) What is the economic basis for the…
4) Explain why rent is not directly re…
In a newly settled country, no one pays rent because it is ab…
As long as net produce with less fertile land is brought unde…
Suppose the wage rate is above the subsistence level because…
Rent increases the cost of labor created by the increase in t…
1) Explain the theory of rent
In a newly settled country, no one pays rent because it is ab…
2) When do profits decrease?
As long as net produce with less fertile land is brought unde…
8 terms
David Ricardo Study Questions
1) Explain the theory of rent
2) When do profits decrease?
3) What is the economic basis for the…
4) Explain why rent is not directly re…
According to Ricardo rent "is that portion of the produce of…
As population increases there will be an increased demand for…
Both the natural price of labor and nominal wages rise becaus…
It is not entirely the increase in rent, the price of corn in…
1) Explain the theory of rent
According to Ricardo rent "is that portion of the produce of…
2) When do profits decrease?
As population increases there will be an increased demand for…
6 terms
Econ 107 David Ricardo
1) Explain the theory of rent
2) When do profits decrease?
3) What is the economic basis for the…
4) Explain why rent is not directly re…
In a newly settled country, no one pays rent because it is ab…
As long as net produce with less fertile land is brought unde…
Suppose the wage rate is above the subsistence level because…
Rent increases the cost of labor created by the increase in t…
1) Explain the theory of rent
In a newly settled country, no one pays rent because it is ab…
2) When do profits decrease?
As long as net produce with less fertile land is brought unde…
8 terms
David Ricardo Questions
Explain the theory of rent
When do profits decrease?
What is the economic basis for the con…
Explain why rent is not directly respo…
• (Rents are paid for landlords for the use of soil)... • Land h…
• Competition (up) - capitalists bid up the rent on the highe…
• Struggle between capitalists and landlords for the surplus…
• Competition equalizes profits between all... • Population grow…
Explain the theory of rent
• (Rents are paid for landlords for the use of soil)... • Land h…
When do profits decrease?
• Competition (up) - capitalists bid up the rent on the highe…
12 terms
David Ricardo's The Principles of Political Economy and Taxation
Law of Supply and Demand
Agricultural Labors
Capitalists
Capitalists
Would lead to undesirable results in agricultural societies... I…
Provide labor in exchange for wages
Own capital and earn profits... Accumulate profits so they can r…
Find themselves in double jeopardy... Would have to answer to in…
Law of Supply and Demand
Would lead to undesirable results in agricultural societies... I…
Agricultural Labors
Provide labor in exchange for wages
33 terms
Exam 1 Jean Baptiste Say and David Ricardo
the French Adam Smith
the Ricardian vice
the labor theory of value
entreprenuer
what Jean-Baptiste Say became known as
dreaming up theories without reference to reality
the relative prices of goods are determined by the quantity o…
the master agent or adventurer combines capital, knowledge, a…
the French Adam Smith
what Jean-Baptiste Say became known as
the Ricardian vice
dreaming up theories without reference to reality
David Ricardo: The Economist's Economist (Unit II set 8)
David Ricardo (1772-1823)
for the good or ill?
Persuasive case for sound money
principle of comparative advantage and…
The wealthy financial broker
some would critique that he didn't take economists down the b…
1. don't print out more money than we have precious metals on…
vs Smith who wanted absolute advantage
David Ricardo (1772-1823)
The wealthy financial broker
for the good or ill?
some would critique that he didn't take economists down the b…
20 terms
Chapter 3: The Classical World of David Ricardo and Comparative Advantage
Assumptions of the Basic Ricardian Model
Comparative Advantage
Autarky (pretrade) price ratios
Terms of Trade
1. Countries have fixed endowments of resources... 2. Factors of…
- a country may be more efficient at producing a certain good…
price ratios when the country has no international trade: rat…
International price ratio for two goods... - two separate marke…
Assumptions of the Basic Ricardian Model
1. Countries have fixed endowments of resources... 2. Factors of…
Comparative Advantage
- a country may be more efficient at producing a certain good…
Ricardo
What were the two wealthy classes duri…
What was the future according to Godwin?
What was David Ricardo's view of the f…
Who coined the term "the dismal scienc…
landowners and industrialists
a perfect world.
gloomy
Thomas Carlyle
What were the two wealthy classes duri…
landowners and industrialists
What was the future according to Godwin?
a perfect world.
Ricardo Ortiz chapter 14
States rights
Anaconda plan
Thomas j Jackson
First battle of Manassas
According to the compact theory of the Union the states retai…
Union war plan by Winfield Scott, called for blockade of sout…
1863, Confederate general whose men stopped Union assault dur…
Where did Stonewall Jackson earn his nickname?
States rights
According to the compact theory of the Union the states retai…
Anaconda plan
Union war plan by Winfield Scott, called for blockade of sout…
Chapter 4: Tricky Ricardo Takes Economics Down a Dangerous Road
David Ricardo
Ricardian Vice
Malthus was an early mentor of the Cur…
Law of Diminishing Returns
wealthiest economist ever. Malthus's best friend. Promoted fr…
excessive use of abstract model building or the use of false…
anti inflation monetary policy
along with Malthus, Ricardo helped develop this famous econom…
David Ricardo
wealthiest economist ever. Malthus's best friend. Promoted fr…
Ricardian Vice
excessive use of abstract model building or the use of false…
10 terms
Basic Concepts
Land
Capital
Labor
Entrepreneurship
natural resources
tool, skills, equipments, etc.
human effort
combination of land, capital and labor
Land
natural resources
Capital
tool, skills, equipments, etc.
Enlightenment Thinkers and Their Contributions to American Government
Voltaire
Baron de Montesquieu
Thomas Hobbes
John Locke
French Enlightenment philosopher who believed in freedom of r…
French political philosopher and writer who believed that the…
An English philosopher who saw the need for some form of orde…
An English philosopher known as the "father of liberalism". H…
Voltaire
French Enlightenment philosopher who believed in freedom of r…
Baron de Montesquieu
French political philosopher and writer who believed that the…
17 terms
Economic schools
Classical economics
Adam Smith
David Ricardo
Thomas Malthus
believed in self-regulation and free markets, popular in 18th…
-"Wealth of Nations"... -the invisible hand regulates market wit…
-greatest idea: comparative advantage in global trade
-Malthusian trap: for human history, income was stagnant beca…
Classical economics
believed in self-regulation and free markets, popular in 18th…
Adam Smith
-"Wealth of Nations"... -the invisible hand regulates market wit…
Philosophers of the Industrial Revolution:
Robert Owen
Thomas Malthus
David Ricardo
Jeremy Bentham
He was a Utopian Socialist who owned the New Lanark textile m…
He believed that the shortage of food would lead to war, fami…
He believed that wages were the minimum to live; the people h…
Wrote introductions to the principals of morals and legislati…
Robert Owen
He was a Utopian Socialist who owned the New Lanark textile m…
Thomas Malthus
He believed that the shortage of food would lead to war, fami…
History of Economic Thought: Thinkers
Adam Smith
Thomas Malthus
Jean Baptiste Say
David Ricardo
...
Adam Smith
Thomas Malthus
6 terms
Global II economic theorists
Luddite
Adam Smith
theory
laissez-faire
A group of ... English textile workers in the early 19th century…
Wrote Wealth of Nations... Believed in policy of laissez-faire
an explanation reasoned on principles
unregulated exchange of goods and services; free market (tran…
Luddite
A group of ... English textile workers in the early 19th century…
Adam Smith
Wrote Wealth of Nations... Believed in policy of laissez-faire
5 terms
The new new new terms
Georg Hegel
David Ricardo
Charles Fourier
Fabianism
The German philosopher who developed the concept of dialect ,…
Economist who wrote the iron law of wages. It argued that pov…
French utopian who failed on business in the early 1800s but…
British socialist movement in the late 1800s that advocated g…
Georg Hegel
The German philosopher who developed the concept of dialect ,…
David Ricardo
Economist who wrote the iron law of wages. It argued that pov…
Economists
Adam Smith (1723-1790)
Milton Friedman (1912-)
Karl Marx (1818-1883)
John Maynard Keynes (1883-1946)
Scottish philosopher and economist. Though he wrote on nearly…
American economist. Conservative thinker famous for his advoc…
German economist, historian, and social philosopher. Marx's p…
English economist. He is most famous for The General Theory o…
Adam Smith (1723-1790)
Scottish philosopher and economist. Though he wrote on nearly…
Milton Friedman (1912-)
American economist. Conservative thinker famous for his advoc…
5 terms
Industrial Revolution: Economics
Robert Owen
Karl Marx
Friedrich Engels
Thomas Malthus
(1771-1858) Founder of Utopian socialism who improved health…
19th century philosopher, political economist, sociologist, h…
German communist who aided Marx in writing The Communist Mani…
18th century English intellectual who warned that population…
Robert Owen
(1771-1858) Founder of Utopian socialism who improved health…
Karl Marx
19th century philosopher, political economist, sociologist, h…
6 terms
Industrial Revolution
Adam Smith
Thomas Malthus
David Ricardo
John Stuart Mill
during enlightenment faze he argued that natural rights shoul…
believed that the only check on population were disease, war,…
Iron Law of Wages; believed that higher wages increased the a…
believed in utilitarianism which was the idea that the main g…
Adam Smith
during enlightenment faze he argued that natural rights shoul…
Thomas Malthus
believed that the only check on population were disease, war,…
5 terms
NAQT
Adam Smith
Milton Friedman
Karl Marx
John Maynard Keynes
Scottish philosopher and economist. Author of "An Inquiry int…
American economist. Conservative thinker famous for his advoc…
German economist, historian, and social philosopher. Extended…
English economist famous for "The General Theory of Employmen…
Adam Smith
Scottish philosopher and economist. Author of "An Inquiry int…
Milton Friedman
American economist. Conservative thinker famous for his advoc…
10 terms
Economists
Adam Smith (1723-1790)
Milton Friedman (1912- )
Karl Marx (1818-1883)
John Maynard Keynes
Scottish philosopher and economist. Though he wrote on nearly…
American economist. Conservative thinker famous for his advoc…
German economist, historian, and social philosopher. Marx's p…
(1883-1946) English economist. He is most famous for The Gene…
Adam Smith (1723-1790)
Scottish philosopher and economist. Though he wrote on nearly…
Milton Friedman (1912- )
American economist. Conservative thinker famous for his advoc…
C9 identify
Adam smith
Thomas malthus
David Ricardo
Jeremy Bentham
Wrote the book "the wealth of nations" defending the idea of…
Eighteenth-century English intellectual who warned that popul…
(1772-1823)-English economist who formulated the "iron law of…
(1748-1832) British theorist and philosopher who proposed uti…
Adam smith
Wrote the book "the wealth of nations" defending the idea of…
Thomas malthus
Eighteenth-century English intellectual who warned that popul…
Adam Smith
Jeremy Bentham
John Stuart Mill
Robert Owen
Scottish political economist and philosopher. His Wealth of N…
(1748-1832) British theorist and philosopher who proposed uti…
English liberal thinker. Believed that freedom and liberty co…
(1771-1858) British Utopian Socialist and cotton manufacturer…
Adam Smith
Scottish political economist and philosopher. His Wealth of N…
Jeremy Bentham
(1748-1832) British theorist and philosopher who proposed uti…
Ch 9-4 identify
Adam Smith
Thomas Malthus
David Ricardo
Jeremy Bentham
After 1976, Smith was more likely to be represented as the au…
Thomas Robert Malthus was the first economist to propose a sy…
David Ricardo (18 April 1772 - 11 September 1823) was a Briti…
Jeremy Bentham was an English philosopher and political radic…
Adam Smith
After 1976, Smith was more likely to be represented as the au…
Thomas Malthus
Thomas Robert Malthus was the first economist to propose a sy…
9 terms
GDP (Gross Domestic Product)
What is the formula for calculating GDP?
GDP only includes _______ goods and se…
GDP vs. GNP (Gross National Product)
Nominal GDP vs. Real GDP
C+I+G+(X-M)... C=consumer spending... I=investment spending... G=gover…
final
-GDP only includes the total value of goods and services prod…
-nominal GDP counts the current market price for goods and se…
What is the formula for calculating GDP?
C+I+G+(X-M)... C=consumer spending... I=investment spending... G=gover…
GDP only includes _______ goods and se…
final
27 terms
Chapter 19-The Industrial Revolution Begins
anesthetic
enclosure
James Watt
smelt
drug that prevents pain during surgery
the process of taking over and consolidating land formerly sh…
A Scottish engineer who created a steam engine that worked fa…
melt in order to get the pure metal away from its waste matter
anesthetic
drug that prevents pain during surgery
enclosure
the process of taking over and consolidating land formerly sh…
22 terms
The Industrial Revolution
Thomas Newcomen
Urbanization
Spinning Jenny
Eli Whitney
This Scott, who originally made musical instruments, also was…
The term used to describe the rapid growth of cities as a lar…
This machine was invented around 1764 by James Hargreaves. It…
This man built a rifle with interchangeable parts, but he is…
Thomas Newcomen
This Scott, who originally made musical instruments, also was…
Urbanization
The term used to describe the rapid growth of cities as a lar…
World History The Industrial Revolution
James Watt
tenement
anesthetic
turnpike
improved the steam engine in the late 1700's
housing for the working class
drug that prevents pain during surgery
a private toll road
James Watt
improved the steam engine in the late 1700's
tenement
housing for the working class
New Economic Philosophers
Adam Smith
Thomas Malthus
David Ricardo
Jeremy Bentham
Defended idea of free economy, free markets, economic liberty…
Natural Laws governed economic life... Population increased more…
Permanent underclass would always be poor... Iron Law of Wages-…
Goal: Government should promote the greatest good for the gre…
Adam Smith
Defended idea of free economy, free markets, economic liberty…
Thomas Malthus
Natural Laws governed economic life... Population increased more…
15 terms
laws, organizations, and agreements
Sherman Antitrust Act (1890)
Clayton Act (1914)
OECD
NAFTA
a law that made it illegal to create monopolies or trusts tha…
strengthened the Sherman Act by specifying that monopolistic…
Organization for Economic Cooperation and Development; curren…
North American Free Trade Agreement signed by Canada, the US…
Sherman Antitrust Act (1890)
a law that made it illegal to create monopolies or trusts tha…
Clayton Act (1914)
strengthened the Sherman Act by specifying that monopolistic…
27 terms
Industrial Revolution
labor union
enclosure system
urbanization
Britain lead the Industrial Revolution…
workers' organization formed to fight against poor factory co…
taking common land and fencing off land formerly shared by pe…
movement of people who were displaced from their jobs, from r…
natural resources ... coal and iron... stable govt... population boom…
labor union
workers' organization formed to fight against poor factory co…
enclosure system
taking common land and fencing off land formerly shared by pe…
AP: Unit 8 Changes and -Isms
Congress of Vienna
Metternich
Edmond Burke
Ministerial responsibility
(1814-1815 CE) Meeting of representatives of European monarch…
Austrian foreign minister who led the Congress of Vienna. Wan…
a conservative from the aristocracy who worked against new id…
the idea that the prime minister is responsible to the electe…
Congress of Vienna
(1814-1815 CE) Meeting of representatives of European monarch…
Metternich
Austrian foreign minister who led the Congress of Vienna. Wan…
10 terms
Econ - NAQT You Gotta Know These Economists
Scottish philosopher and economist. (1…
American economist. (1912- ) Conservat…
German economist, historian, and socia…
English economist. (1883-1946) He is m…
Adam Smith
Milton Friedman
Karl Marx
John Maynard Keynes
Scottish philosopher and economist. (1…
Adam Smith
American economist. (1912- ) Conservat…
Milton Friedman
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