Search results for keyword: ricard
Currency Regional Advantage Theory
Introduction
Regional advantage is a key factor in the analysis of economic activity. The spatial focus of such theory suggests that, particularly in developing countries, the location of economic activity may be grossly misallocated due to market failure and distortions. One of the most influent......
10/07/2023 
1070 
Lucas
Wage Determination Theory of Classical Economists
Classical economists, including Adam Smith and David ricardo, proposed a theory of wage determination that they believed applied to labor markets and the economy as a whole. According to classical economics, wages are determined by the forces of supply and demand in the labor market. That is, if t......
Tax Thoughts of the Classical School
Classical Taxation theorists
The Classical Taxation theorists emerged in the late 18th century, often referred to as the “fathers” of public finance and tax theory. These theorists are Adam Smith, David ricardo, and John Stuart Mill each of whom had individual views on taxation and public financ......
International Economics
International Economics
The term “international economics” encompasses broad disciplines centered on the global economy. The field of international economics is focused on the effects of global markets that involve the interactions of governments, businesses, and consumers worldwide. The scope ......
economic rent
Introduction
Economic rent is the payment to a factor of production in excess of what is necessary to keep the factor in its current use. The concept is derived from ricardos analysis of land rent. In ricardos view, economic rent is the value associated with the fixed land and natural resource su......
economist
A Brief History of Economics
Economics is a social science that studies the production and distribution of goods and services. It often deals with topics such as household budgets, macroeconomic policies and business plans. The economic system is complex and ever changing, as its study requires k......
Quesnay's Flat Tax Theory of Land
Single Tax Theory of Henry George
Introduction
Henry George (1839–1897) was an American political economist and philosopher. He is best known for his advocacy of a “single tax” on land as a solution for reducing inequality and as a means of funding public services. In essence, George believed t......
Marshallian economics
Marshallian Economics
Alfred Marshall was an English economist and one of the most influential economists of the late 19th and early 20th centuries. He is credited with the development of the concept of marginal utility and consumer sovereignty, and his ideas formed the basis for the development ......
Thomas Mann's Tax Thoughts
Thomas Malthus and the Idea of Taxation
Thomas Malthus (1766-1834) was an influential English cleric and philosopher best known for his theories on population growth. He is widely regarded as one of the forerunners of modern economics, and his ideas on taxation have had an immense impact on the w......
Wagner's Tax Principles
Adam Smith’s Vaisean Principles of Taxation
Adam Smith (1723-1790) was a Scottish philosopher, economist and social scientist who is remembered largely for his 1776 publication An Inquiry into the Nature and Causes of the Wealth of Nations. In this influential book, Smith set out a framework f......
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