Short Biographies of Economists

Petty William

Petty William (1623-1687), English economist. The son of a clothier from Hampshire (England). At the age of 15, he went to Normandy with trading purposes, doing there in between the study of ancient languages ​​​​and mathematics. At one time he served in the Navy.

In 1643-1646. spent in France and Holland, devoting much time to scientific studies. Then he became close to the philosopher Hobbes and even at one time was his secretary. In 1648, we see Petty at Oxford University, where he teaches anatomy and chemistry, and a year later receives a doctorate in physics. In 1851, Petty received the chair of anatomy at the same university and at the same time taught music there.

In 1652, Petty was appointed chief physician to Cromwell's Irish army. Interested in the troubles in the arrangement of land confiscated from the Irish in 1641 and intended for distribution to soldiers, Petty introduces his draft of a new land registry. Having received 9000 pounds for his work, he uses them to buy up soldier's certificates for allotments and becomes a large landowner.

In 1658, Petty was elected to Parliament (Richard Cromwell). After the restoration of the Stuart dynasty, and for the services that Petty rendered to her, he was elevated in 1661 to a knighthood. In the same years, Petty became one of the first members of the then founded Royal Society - the first Academy of Sciences of the New Age. By this time, Petty's interests are shifting to the field of economics and politics. He has ideas about reforming the tax system, organizing a statistical service, and projects to improve trade. Having gained access to the court, Petty publishes pamphlets in which he expresses his thoughts in the hope that they will be heard by the authorities.

Petga's first serious economic essay, A Treatise on Taxes and Duties, was published in 1662. And this is his most important work: in an effort to show the Duke of Ormond (appointed Viceroy of Ireland) ways to increase tax revenues, Petty in this work most fully outlined his economic views.

Petty's views can be found in the following works translated into Russian1:

W. Petty. "Treatise on taxes and fees." In the book. "Anthology of Economic Classics", T. 1. M., 1993.

W. Petty. Selected works. M., 1997.

Smith Adam

Adam Smith (1723-1790), English economist and philosopher, founder of classical political economy. Born in Scotland (Kirkcaldy) in the family of a customs officer. In 1737 he entered the University of Glasgow, where, after the compulsory class of logic (first year) for all students, he transferred to the class of moral philosophy, thereby choosing a liberal arts education. Having successfully graduated from the university in 1740, Smith received a scholarship to further study at Oxford University, where he studied from 1740 to 1746. Political events in England (the uprising of supporters of the Stuarts in 1745-1746) forced Smith to leave for Kirkcaldy in the summer of 1746, where he lived for two years, educating himself.

In the years 1748-1751, Smith reads in Edinburgh a course of public lectures on natural law, which included in the eighteenth century not only jurisprudence, but also political doctrines, sociology, and economics. In 1751 he headed the department of logic, in 1752 - the department of moral philosophy at the University of Glasgow.

In 1759, Smith published in London his first major scientific work, The Theory of Moral Sentiments, which represents a significant stage in the development of Smith's philosophical and economic ideas.

In 1764-1766. A. Smith was abroad, mainly in France, where he was invited to tutor the young Duke of Buccleuch. The payment for his services was such that it allowed Smith to work for the next 10 years only on his main work, which later brought him world fame, “An Inquiry into the Nature and Causes of the Wealth of Nations.” In 1767-1773, Smith lived in his homeland, Scotland, devoting himself entirely to this work. An Inquiry into the Nature and Causes of the Wealth of Nations was published in London in March 1776.

In 1778 (two years after the publication of The Wealth of Nations), Smith received the post of one of the Scottish Customs Commissioners and lived in Edinburgh until the end of his days.

Works of A. Smith, translated into Russian:

A. Smith. "The Theory of Moral Sentiments." M., Republic, 1997.

A. Smith. "An Inquiry into the Nature and Causes of the Wealth of Nations." M., Sotsekgiz, 1962.

A. Smith. "An Inquiry into the Nature and Causes of the Wealth of Nations" (separate chapters). In the book. "Anthology of Economic Classics". T. 1. M., Ekonov, 1993.

Ricardo David

Ricardo David (1772-1823), English economist, a prominent representative of the classical trend in political economy. Born in London in the family of a wealthy merchant who was engaged in wholesale trade in goods, and then switched to trading in bills and securities. David Ricardo did not receive a systematic education: after graduating from elementary school, he studied at a trading school for only two years, and then, from the age of 16, began to help his father in a trading office and on the stock exchange. After parting with his father, Ricardo in 1793 took up independent commercial activities, and quite successfully.

Since 1802, Ricardo has been a member of the governing committee of the London Stock Exchange. In the same period, the first economic works of Ricardo, devoted to the issues of monetary circulation and currency regulation, were published. In several articles and pamphlets, Ricardo argued that the increase in the market price of gold in paper money is a consequence and manifestation of their depreciation due to excessive issuance. By 1811, Ricardo was already a recognized authority, the leader of the movement to restore the change of banknotes.

Having created a huge fortune of £1 million by playing on the stock exchange, in 1812 Ricardo retired from commercial activities, becoming a large rentier and landowner and devoting himself to scientific work. In 1817, his main theoretical work, “Principles of Political Economy and Taxation,” was published, where he completed the development of classical political economy begun by A. Smith.

In 1819, Ricardo was elected to Parliament, where he spoke from the standpoint of radical liberalism.

Ricardo's works translated into Russian:

D. Ricardo. Op. In 3 volumes. M., Gospolitizdat, 1955. T. 1. “The beginnings of political economy and taxation.”

D. Ricardo. "The beginnings of political economy and taxation" (separate chapters). In the book. "Anthology of Economic Classics". T. 1. M., Ekonov, 1993.

Say Jean Baptiste

Say Jean Baptiste (1767-1832), French economist, representative of the classical direction of political economy. Born in Lyon into a bourgeois Huguenot family. Say received a good commercial education in England, but the study of political economy, in particular the work of A. Smith, “An Inquiry into the Nature and Causes of the Wealth of Nations,” was an element of his self-education.

Say returned to Paris at the beginning of the French Revolution, and in 1794 he became the editor of a reputable philosophical and political journal. In 1799, Say was appointed to serve on the financial committee of the tribunate. At the same time, he was working on a large essay, which was published in 1803 under the title “A Treatise of Political Economy, or a Simple Statement of the Method in which Wealth is Formed, Distributed, and Consumed,” in which he popularizes the ideas of A. Smith, in particular, he defends the ideas of economic liberalism. The work attracted the attention of Napoleon, who suggested that the author rework, according to his instructions, the section on public finances. Say rejected the offer and was dismissed from service. In subsequent years, Say fell into disgrace and only the Bourbon restoration strengthened his social position.

In 1814, after the fall of Napoleon, Say published the second edition of the Treatise of Political Economy and was soon elected a member of the French Academy of Sciences. In the years that followed, Say lectured publicly on political economy, and in 1819 took the newly established chair of political economy at the Conservatory of Arts and Crafts.

In 1828-1829, Say publishes the "Complete Course of Practical Political Economy", which, however, in theoretical terms did not introduce anything new in comparison with the "Treatise of Political Economy", and in 1830 he headed the department of political economy specially created for him at the College. de France.

Say and his followers formed the so-called "Say school", which represented the official economics in France in the first half of the nineteenth century.

Say's views can be found in:

J.B.Say. "Treatise of Political Economy". M., Publishing house K. T. Soldatenkova, 1896.

Malthus Thomas

Malthus Thomas (1766-1834), English economist and clergyman. He came from a family of a wealthy esquire (landlord). After completing his studies at Jesus College, Cambridge University (1788), Malthus took holy orders in the English Church and received a vicar (second priest) position in one of the rural parishes of Surrey. Malthus received his theological degree in 1793.

Reflecting on the problems of poverty, Malthus formulated his famous "law of population". He outlined his position in a short work "An Essay on the Law of Population in Connection with the Future Improvement of Society", which was published in London in 1798. The book was a huge success, withstood several reprints, and it was largely thanks to this work that in 1805 Malthus received the chair of professor of modern history and political economy at the college of the East India Company, which he headed until his death in 1834. In the same college, he also served as a priest.

In addition to the “Essay on the Law of Population”, mention should be made of Malthus’s work “Principles of Political Economy” published in 1820, the content of which was mainly a polemic with D. Ricardo.

Work published in Russian:

T. Malthus. "An Essay on the Law of Population." In the book. "Anthology of Economic Classics". T. 2. M., Ekonov, 1993.

Sismondi Sismonde

Sismondi Sismonde (1773-1842), Swiss economist and historian. Born near Geneva. The family was wealthy and belonged to the Genevan aristocracy. Sismondi's father was a Calvinist pastor and a member of the Grand Council of the Republic of Geneva. Sismondi was educated at the Calvinist theological college, and then at the university, where, for family reasons, he had to interrupt his studies, joining one of the banking houses of Lyon (France). Revolutionary events in France forced Sismondi to return to Geneva.

When the French Revolution also captured Geneva, the Sismondi family was forced to emigrate in 1793 to England, where they lived for a year and a half, and then to Italy. In England, Sismondi became acquainted with the work of A. Smith and became a supporter of classical political economy. In 1800, Sismondi returned to Geneva and published his work “On Commercial Wealth” (1801), in which he acts as a student of A. Smith and a preacher of his ideas. Having declined an invitation to take a chair at the Paris Sorbonne, Sismondi traveled around Europe for several years, collecting material for historical and economic works. Having visited England again during his travels (1815), where the development of capitalism led to the ruin of peasants and artisans, Sismondi now acts as a critic of capitalism and classical political economy. He expressed his disagreement in his main economic work, “New Principles of Political Economy or on Wealth in Its Relation to Population” (1819).

The book soon made him a European celebrity. In 1833 Sismondi was elected a member of the French Academy of Moral and Political Sciences.

After many years of wandering, caused by both the French Revolution and the Napoleonic Wars, in 1818 Sismondi finally returns to his homeland and devotes himself entirely to scientific work.

During his lifetime, Sismondi was considered more of a historian than an economist. Indeed, his historical research is enormous. This can be seen at least from the History of the French. 29 volumes were released, but Sismondi never had time to complete the work.

Work published in Russian:

J.S. Sismondi. "New principles of political economy or On wealth in its relation to population." In 2 vols. M., Sotsekgiz, 1937.

Mill John Stewart

Mill John Stuart (1806-1873). Born in London in the family of the philosopher and economist James Mill. The latter had a peculiar system of education. Mill was educated at home under the guidance of his father. From the age of three he began to study the Greek language, from the age of six he began to write independent historical works, from the age of twelve he began to study higher mathematics, logic and political economy. By the age of fourteen, when Mill's education is over, the child turns into a real prodigy. And at the age of sixteen (1822), Mill Jr. published his first works: two short articles on the theory of value.

In 1823, John Mill took the place of a clerk in the department of the East India Company, which was in charge of his father (James Mill). And by 1858, Mill is an employee of this company. Along with this, he leads an active political life and is engaged in scientific work. As Mill himself writes, the childhood habit of working 14 hours a day is affecting.

In 1822, Mill and other ardent supporters of I. Bentham organized a circle called the “utilitarian society”, and in the “Benthamite organ” they founded, the Westminster Review, he published a number of articles of economic content.

Only by the mid-40s did Mill free himself from the influence of Bentham, having lost (by his own admission) his former confidence in the omnipotence of rational feeling. And acquaintance with the teachings of the Saint-Simonists shook his former confidence in the benevolence of a social system based on private property and unlimited competition. The publication of the most important works of Mill belongs to the same period: the philosophical work The System of Logic (1843) and his most famous work on economics, The Foundations of Political Economy (1848). In subsequent years, Mill published several political and philosophical writings, in particular, "On Freedom" (1859).

After finishing his service in the East India Company (1858), Mill tries himself in the political field. From 1865 to 1868 he was a Member of Parliament, serving as a representative of the Westminster constituency in the House of Commons. Having been defeated in the next election (1868), Mill leaves for France, where he spends the last years of his life.

The following works by Mill were published in Russian:

J. S. Mill. "Fundamentals of Political Economy". In 3 volumes. M., Progress, 1980-1981.

J. S. Mill. "About freedom". In the book. "Anthology of Western European classical liberal thought." M., Nauka, 1995.

Marx Karl

Karl Marx (1818-1883), German economist and philosopher. Born in Trier (Germany), in the family of a lawyer.

In 1835, Marx entered the University of Bonn, then (a year later) continued his studies at the University of Berlin, where he studied law, philosophy, and the theory of art. After graduating from the university (1841), Marx returned to Bonn, where he became an employee, and soon the editor of the Rhine Gazette. For political reasons, the newspaper was closed in 1843 and Marx moved to Paris with the aim of publishing the "German-French Yearbook" and distributing it in Germany. Marx's first economic work, The Economic-Philosophical Manuscripts of 1844, dates back to this time.

The second half of the forties of the nineteenth century - the time of the cash performances of the European working class and Marx does not remain aloof from the political struggle. In the spring of 1847, Marx (together with a friend and co-author of many works

F. Engels) joined the "Union of the Just", reorganized in June of the same year into the Union of Communists (the first international communist organization) and developed its program "The Communist Manifesto", published in February 1848 in London.

In 1848, Marx went to Germany and created the New Rhine Gazette. The newspaper is closed again, Marx is expelled from Germany. Then Paris, expulsion again, and in 1849 Marx moved to London, where he lived for the rest of his life.

In London, Marx is engaged in the development of revolutionary theory, but at the same time intensive work is underway on economic writings, in particular, on Capital, the version of the first volume of which Marx completed in 1865. At the same time (1864), on the initiative of Marx, the International Association of Workers - the First International was created in London, where he was not only the founder, but also the head of its General Council.

In subsequent years, Marx was engaged, among other things, in the development of the theory of socialism, the main provisions of which he outlined in his Critique of the Gotha Program (1875). In particular, the foundations of the program of the proletarian parties and formulated the provision on the transition period from capitalism to socialism.

In Soviet times, Marx's works were published many times in thousands of copies, including complete works, so finding any of his works is not difficult. In the opinion of the author of this work, the most easy to present and at the same time quite fully expounding the views of Marx are the following works:

K. Marx. "Toward a critique of political economy." M., Politizdat, 1990.

K. Marx. "Wages, Prices and Wage Labor and Capital". M., Politizdat, 1990.

K. Marx. "Critique of the Gotha Program". M., Politizdat, 1989.

Böhm-Bawerk Eigen

Böhm-Bawerk Eigen (1851-1919), Austrian economist. Born in Brunn, in the family of a politician (his father was the vice-governor of Moravia). After graduating from the University of Vienna (1872), where, in accordance with family tradition, he devoted himself to the study of jurisprudence, Böhm-Bawerk received a position as a civil servant in Lower Austria, and subsequently entered the service of the Ministry of Finance. This period dates back to the awakening of Böhm-Bawerk’s interest in economic theory, not least associated with his acquaintance with the original views of K. Menger.

The beginning of Böhm-Bawerk's academic activity dates back to 1880, when he received a position as Privatdozent of Political Economy at the University of Vienna. And from 1881 to 1899 Böhm-Bawerk was a professor at the University of Innsbruck. This relatively quiet period of his activity includes the writing and publication of his most famous works: "Fundamentals of the Theory of the Value of Economic Goods" (1886), written on the basis of the dissertation "Rights and Relations from the Point of View of the Doctrine of National Economic Goods", which he defended in 1881 , "Capital and Profit" (1884) and "The Positive Theory of Capital" (1889).

In 1899, Böhm-Bawerk was again invited to serve in the Ministry of Finance, where he worked until 1904, holding the post of Minister of Finance of Austria three times during this period.

In 1905 Böhm-Bawerk left the civil service and assumed the duties of a professor at the University of Vienna. Since 1911 Böhm-Bawerk has been president of the Austrian Academy of Sciences. Both Wieser and Böhm-Bawerk were life members of the Upper House of Parliament.

Work published in Russian:

Boehm-Bawerk E. "Fundamentals of the theory of the value of economic goods." In the book. "The Austrian School in Political Economy". M., Economics, 1992.

Of considerable interest is also the work that was not published in Russia after the revolution:

Boehm-Bawerk E. "Capital and profit. History and criticism of theories of interest on capital." St. Petersburg, 1909.

Marshall Alfred

Marshall Alfred (1842-1924), English economist, founder of the Cambridge School of Political Economy. Born in the family of an employee. As a child, under the influence of his father and following the example of his grandfather, who was a priest, he prepared for a spiritual career. However, fate decreed otherwise. Marshall goes to study mathematics at the University of Cambridge. In 1865, while studying at St. John's College, Marshall took second place in mathematics and was immediately enrolled in graduate school. After graduating with honors from the University of Cambridge, Marshall was left for teaching, which became the main occupation of his life.

Marshall's transition to the problems of ethics, and then to political economy, dates back to 1867, when Marshall, by his own admission, begins to seriously study economic science. And his own doctrines, which he outlined in his work "Principles of Economic Science", were largely formed by 1875.

In 1868, Marshall was appointed as a lecturer at Cambridge, where he worked for nine years, except for the four months that Marshall spent in the United States in 1875. Returning from there, he gave a course of lectures on American industry.

From 1877 to 1885 Marshall was forced to temporarily (due to family reasons) leave Cambridge and work at Bristol (1877-1881), where he was mainly involved in various administrative activities and Oxford (1883-1885) universities. In 1885, Marshall returned to Cambridge University, where in 1908 he headed the Department of Political Economy (Economics). In 1908, Marshall left the department and until the end of his life was engaged in the creation of his works.

Since 1902, on Marshall’s initiative, a new presentation of this subject called “Economics” was introduced, and thus the construction of a course based on the textbooks of political economy of the “classical school” represented by J. S. Mill was finally supplanted.

A. Marshall is the author of a number of works, in particular, "The Economics of Industry" (1889), "Industry and Trade" (1919), "Money, Credit and Trade" (1923). But it was the main work "Principles of Economic Science" (1890) that brought him world fame.

For many years, Marshall was an expert on various industrial commissions, in particular, in the early 90s he served on the Royal Commission on Labor. It should be added that Marshall was one of the organizers of the Royal Economic Society.

Two editions of Marshall's work were published in Russian:

A.Marshall. "Principles of Political Economy". In 3 volumes. M., Economics, 1983-1984.

A.Marshall. "Principles of Economic Science". In 3 volumes. M., Progress, 1993.

Veblen Thorstein

Veblen Thorstein (1857-1929), American economist and sociologist, founder of the institutional movement in economics. Born into the family of a Norwegian emigrant peasant in rural Wisconsin. Thanks to his outstanding abilities, Veblen received a higher education, graduating from Yale University (USA) and even a doctorate, which he received from the same Yale University, presenting a dissertation on the ethics of I. Kant. However, he did not receive a teaching position after graduating from university and was forced to return to his father’s farm, where he spent the next 7 years.

Only in 1890 did Veblen get an assistant position at Cornell University (USA), but he did not work there for long. And all subsequent years Veblen did not have a permanent teaching job, partly because of his extremely radical views, partly because of his quarrelsome character. In the academic world, he did not become his own and was forced to often change colleges and universities where he taught. Only in 1900 (a year after the publication of The Theory of the Leisure Class) Veblen became a junior professor at the University of Chicago, but he did not stay there for long, continuing to roam from university to university in subsequent years.

In the early 20s, Veblen moved to the newly founded New School for Social Research. Here he also could not resist, and after an unsuccessful attempt to get a professorship, Veblen leaves for California, where he spends the rest of his life in poverty.

Veblen's main works: The Theory of the Leisure Class (1899), The Theory of Business Entrepreneurship (1904), The Instinct of Mastery and the Level of Development of Production Technology (1914), and Absentee Property and Entrepreneurship in Modern Times (1923).

The following work has been translated into Russian:

T. Veblen. "The Theory of the Leisure Class". M., Progress, 1984.

Schumpeter Joseph Alois

Schumpeter Joseph Alois (1883-1950), Austrian economist and sociologist. Born in Moravia, which was part of Austria-Hungary, in the family of a small manufacturer. Educated at the University of Vienna, where Böhm-Bawerk was his teacher in economics.

In 1906, Schumpeter graduated from the Faculty of Law at the University of Vienna with a doctorate in law, and in 1908 he published his first major theoretical work, The Essence and Main Content of Theoretical Political Economy. On the basis of this book, his teacher and patron Böhm-Bawerk seeks Schumpeter's appointment first to Chernivtsi and then to Graz. Since 1909, Schumpeter has been lecturing on the whole range of economic problems at these universities, where he becomes the youngest professor. During these years, Schumpeter offers a special course on such exotic issues for that time as economic democracy and social classes. And it was during this period that one of Schumpeter's most famous works, The Theory of Economic Development (1912), was published.

The revolution interrupted Schumpeter's scientific activity, his interests shifted towards politics. In 1919 he was invited to the post of Minister of Finance of the Republic of Austria. While in office, Schumpeter developed a plan for financial stabilization. The harsh anti-inflationary measures proposed by him aroused dissatisfaction, and as a result, after spending a little more than six months in the ministerial chair, Schumpeter was forced to resign.

After leaving the government, Schumpeter takes over as president of a small bank. However, his career as a financier-practitioner failed, in 1924 the bank collapsed, and Schumpeter, having lost all his fortune, returned to academic activity.

From 1925 to 1932 Schumpeter headed the Department of Public Finance at the University of Bonn. In 1927-1928. and in 1930 Schumpeter taught for several months at Harvard University (USA). In 1932, Schumpeter finally moved to the United States, where he remained a professor at Harvard University until the end of his life. And it was during these years that such famous works as "Economic Cycles" (1939) and "Capitalism, Socialism, Democracy" (1942) come out from under his pen.

In recent years, Schumpeter has been working on the History of Economic Analysis. However, the manuscript remains unfinished. The following works of Schumpeter have been translated into Russian: J.A. Schumpeter. "Theory of Economic Development". M., Progress, 1982.

J. Schumpeter. "Capitalism, socialism, democracy." M., Economics, 1995.

Chamberlin Edward

Edward Chamberlin (1899-1967), American economist. Born in Washington state, in the family of a priest. After graduating from the University of Iowa in 1921, he received a master's degree from the University of Michigan the following year and entered the doctoral program at Harvard University. Here, in 1927, Chamberlin finished his dissertation, in which he put forward and substantiated the theory of monopolistic competition. From that year until his death, all his activities were connected with teaching at Harvard University. The only exception is the period associated with the work of Chamberlin in the US Office of Strategic Services during the Second World War and a year of teaching at the University of Paris immediately after the end of the war.

In 1933, Chamberlin published his famous work, The Theory of Monopolistic Competition, which has been recognized as a classic. Very soon, Chamberlin was elected head of the department of economic theory at Harvard University (1939-1943), received honorary degrees from many universities, became a member of the American Economic Association (being its vice president in 1944).

The following work has been translated into Russian:

E. Chamberlin. "The Theory of Monopolistic Competition". M., Economics, 1996.

Pareto Wilfred (1848-1923), Italian economist and sociologist. Born in Paris. The son of an Italian aristocrat who emigrated to France for political reasons. V. Pareto received a mathematical and engineering education at the University of Turin. After graduating, he began working for the Roman railway company.

Since 1877, Pareto began to study political economy; the formation of his scientific interests was influenced by the works of L. Walras. Pareto published a number of articles on the doctrine of Walras, and after the latter resigned, in 1893 he headed the department of political economy at the University of Lausanne.

In 1893-1906. Pareto is a professor of political economy at the University of Lausanne. However, heart disease forced Pareto to stop teaching and in 1906 to abandon the leadership of the department.

Pareto's interests are diverse: ancient history, philosophy, sociology, as well as mathematics and economics. After his resignation, Pareto moved away from the development of economic problems, and since 1906, having settled in his estate on the shores of Lake Geneva, for seventeen years he was busy developing his sociological system. In 1912, Pareto completed his main work, Treatise on General Sociology.

The following work has been translated into Russian:

V.Pareto. "Net Economy". Voronezh, 1912.

This paper presents the economic views of Pareto. As for his sociological views, an idea of ​​them can be obtained from the article:

V. Pareto. "Transformation of Democracy". On Sat. "Texts on the history of sociology of the 1994th-XNUMXth centuries." Reader. M., XNUMX.

Pigou Arthur

Pigou Arthur (1877-1959), English economist, student and follower of A. Marshall. He was educated at the University of Cambridge where he studied mathematics and history. This gave him, by his own admission, a solid foundation of knowledge for work in the field of political economy.

Having begun work at Cambridge under the leadership of A. Marshall, Pigou began to study the practical issues of a market economy, but he paid his main attention to issues of political economy. When Marshall left the department in 1908, he recommended transferring its leadership to his favorite student, A. Pigou. Pigou held this post from 1908 to 1943.

During these years, Pigou was repeatedly involved by the government in developing a number of specific decisions on economic policy. In particular, in 1918-1919. he was a member of the Currency Committee in 1919-1920. - Member of the Royal Commission on Income Taxes, 1924-1925. - member of N. Chamberlain's committee on monetary issues, whose report led to the restoration of the gold standard in Great Britain for a short time.

Major works: Fluctuations in Industrial Activity (1929), Steady State Economics (1935), Employment and Equilibrium (1941). However, world fame brought him the work "The Economic Theory of Welfare" (1920).

The following work has been translated into Russian:

A. Pigou. "The Economic Theory of Welfare." In 2 vols. M., Progress, 1985.

Keynes John Maynard

Keynes John Maynard (1883-1946), English economist and statesman. Born in Cambridge, in the family of a professor of logic and economics.

After graduating from King's College, Cambridge University, where he studied from 1902-1906, Keynes enters the civil service with the Indian Office.

In 1908, Keynes returned, at the invitation of A. Marshall, to the University of Cambridge as a teacher of economic theory, where he worked until 1915. Already for his first economic work, “The Index Method” (1909), Keynes received the A. Smith Prize.

In 1911, Keynes became editor of one of the most significant periodicals, the Economic Journal, and remained in this post until 1945. Since 1913, Keynes has been Secretary of the Royal Economic Society. In 1913-14. Member of the Royal Commission on the Finance and Monetary Circulation of India.

In 1915, Keynes left teaching. In 1915-1919. he serves in the British Treasury, dealing with issues of international finance. In 1919, as its representative, Keynes participated in the Paris Peace Conference, which worked out the conditions for a post-war order in Europe. However, in protest against the wrong, in his opinion, decisions, he left the conference, resigning his powers. And in the same year, Keynes's work "The Economic Consequences of the Treaty of Versailles" was published, which brought the author world fame.

In 1920, Keynes returned to teaching at the University of Cambridge, where, thanks to his efforts, the Faculty of Applied Economics was organized. In 1930, his work "A Treatise on Money" was published, as a generalization of his lectures on the theory of money circulation, read at Cambridge University for a number of years, and in 1936 his famous work "The General Theory of Employment, Interest and Money".

However, despite the transition to teaching, Keynes does not break with social and political activities. Since 1929, he has been a member of the British government committee on finance and industry, and since 1930 - chairman of the government's economic council on unemployment. In 1940, Keynes became an adviser to the British Treasury, and in 1942 he was appointed one of the directors of the Bank of England. In the same year, Keynes becomes a member of the House of Lords and receives the title of baronet.

In 1944, Keynes led the British delegation to the Bretton Woods Monetary Conference. His ideas about the management of interstate settlements contributed to the creation of the International Monetary Fund and the International Bank for Reconstruction and Development. Keynes was appointed as a member of the board of these organizations (IMF and IBRD) as a representative of Great Britain.

Keynes' work "The General Theory of Employment, Interest and Money" was published in Russian several times, in particular, in 1978 by the Progress publishing house. But the following editions are the most available:

J. M. Keynes. "The General Theory of Employment, Interest and Money."

(Selected works.) M., 1993.

J. M. Keynes. "The General Theory of Employment, Interest and Money." In the book. "Anthology of Economic Classics". T. 2. M., Ekonov, 1993.

From other works of Keynes translated into Russian:

J. M. Keynes. "The Economic Consequences of the Treaty of Versailles." M., State ed., 1922.

J. M. Keynes. "Treatise on Currency Reform." M., "Economic life", 1925.

Mises Ludwig

Mises Ludwig (1881-1973), Austrian economist and sociologist. Born in Glemberg (now Lviv), in the family of an engineer. He graduated from the University of Vienna, where he received a doctorate in law (1906). From 1906, Mises worked in a number of civil, commercial and criminal courts, but very soon moved away from pure jurisprudence. In 1909, Mises went to work in the Chamber of Commerce, with which he would be associated for the next quarter of a century.

During this period, the scientific interests of Mises, directly combined with his practical activities as an economic adviser, lie in the field of money circulation. In 1912, his first book, The Theory of Money and Medium of Circulation, was published, which served as the basis for inviting Mises in 1913 to a professorship at the University of Vienna.

Mises' scientific and teaching activities were interrupted by the war, where he served for three years as an artillery officer at the front. After the collapse of the Austro-Hungarian Empire, Mises continues to work at the Vienna Chamber of Commerce, which has become a kind of economic headquarters for the government, where, as an economic adviser, he recommends a tough anti-inflationary course. In the same place, in the premises of the Chamber of Commerce, Mises, who was denied a professorship after the war, organizes a private seminar that worked from 1920 to 1934.

In 1926, Mises founded the Austrian Institute for Business Cycle Research. And in 1934 he received an invitation to take a professorship at the Higher Institute for International Studies at the University of Geneva.

In 1940, Mises emigrated to the United States, where his name (his work "Socialism" brought him world fame) ensured that in 1941 he received a grant from the National Bureau of Economic Research. In 1943-1954. Mises serves on the economic commission of the National Manufacturing Association. At the same time, his teaching activities are resumed. From 1949 to 1968 he taught seminars in economic theory at New York University. In 1949, his main, according to Mises himself, book "Human Actions: A Treatise on Economics" was published.

Mises died in New York at the age of 92. Mises' works translated into Russian: L. Mises. "Socialism: economic and sociological analysis." M., "Catalaxy", 1994.

L. Mises. "Bureaucracy. Planned chaos. Anti-capitalist mentality." M., Delo, 1993.

Hayek Friedrich

Hayek Friedrich (1899-1992), Austrian economist and sociologist. Born in Vienna, in the family of a local health officer and part-time professor of biology at the University of Vienna.

In 1918, Hayek entered the University of Vienna, where he studied law, economics, philosophy and psychology. Upon graduation (1921), he received a doctorate in law and began working at the Austrian Bureau for the Settlement of War Claims (under the leadership of L. Mises). At the same time, he continued his studies at the University of Vienna and in 1923 received a doctorate in economics.

In 1924, Hayek - in the public service, being in 1927-1931. director of the Austrian Institute for Economic Research. These years accounted for a large number of Hayek's articles on the trade cycle, monetary theory, and economic policy.

In 1929, Hayek began lecturing at the University of Vienna, and the following year he was invited to lecture at the London School of Economics, where he was soon promoted to professor of economics and statistics. Hayek was a professor at the London School of Economics from 1930 to 1950.

The success of The Road to Slavery (1944) led to Hayek receiving several invitations to visit the US in the postwar years. In 1950, Hayek stepped down from his post at the London School of Economics and became professor of social science and morality at the University of Chicago.

In 1963, Hayek returned to Europe to take up the post of professor of economic policy at the University of Freiburg (Germany). Since 1970 he has been a Consulting Professor at the University of Salzburg (Austria).

Hayek was a member of the British and Austrian Academy of Sciences, and in 1974 he was awarded the Nobel Prize for his work on the theory of economic fluctuations and a deep analysis of the interdependence of economic, social and institutional phenomena.

Hayek's works translated into Russian:

FHayek. "Detrimental arrogance. Mistakes of socialism." M., News, 1992.

F. Hayek. "Society of the Free". London, 1990.

F. Hayek. "The Road to Serfdom" M., Ekonov, 1992. F. Hayek. "Private money" M., Institute of National Economic Model, 1996.

Friedman Milton

Friedman Milton (born 1912), American economist, was born in Brooklyn. At the age of 16, he entered Rutgers University (USA) by competitive selection with the right to receive a partial scholarship. After graduating in 1932, Friedman was awarded a bachelor's degree in two disciplines at once: economics and mathematics. After receiving a master's degree (1933), in 1934 Friedman became a research assistant at the University of Chicago.

Friedman's collaboration with the National Bureau of Economic Research began in 1937. And in 1940, the first major work, written jointly with another American economist S. Kuznets, “Income from independent private practice,” was published. During the Second World War, Friedman participated in the development of tax policy on behalf of the Federal Ministry of Finance.

In 1945-46. Friedman teaches economics at the University of Minnesota (USA), then returns to the University of Chicago and becomes an assistant professor in economics. In 1950, Friedman participated as a consultant in the implementation of the Marshall Plan.

In 1957, Friedman's book "The Theory of the Consumption Function" was published, where he proved the fallacy of Keynes's concept, and in 1963 his fundamental work "The Formation of the Monetary System in the USA", which outlined the main provisions of the monetarist theory.

In the early 70s (1971-1974), Friedman was an adviser to US President R. Nixon on economic issues. And many of his proposals, which boil down to reducing intervention in the economy, have been put into practice.

Doctor of Philosophy (1946), Doctor of Laws (1968), Nobel Laureate in Economics in 1976, in 1977 Friedman became a senior researcher at the Hoover Institution at Stranford University. It should be added that for more than three decades, Friedman was an active member of the American Economic Association, of which he was president in 1967.

The following work has been translated into Russian:

M. Friedman. "The Quantity Theory of Money". M., Elfpress, 1996.

Tugan-Baranovsky M. I. 

M.I. Tugan-Baranovsky (1865-1919), Russian economist. A native of the Kharkov region. At the age of 23, he graduated from the course of Kharkov University in two faculties at once: natural and legal.

However, Tugan-Baranovsky chose political economy as the sphere of his activity. In 1894, having published the work "Industrial Crises in Modern England, Their Causes and Influence on People's Life", he became the first Russian scientist with a worldwide reputation (the book was translated into German in 1901, and then into French). For this work, Tugan-Baranovsky was awarded a master's degree from Moscow University in 1894. In 1895 he became assistant professor at St. Petersburg University and in the same year he was accepted as a member of the Imperial Free Economic Society.

As a representative of "legal Marxism", Tugan-Baranovsky participates in the editing of Marxist journals, such as Novoye Slovo, Nachalo, and Mir Bozhiy. In 1898, Tugan-Baranovsky published the book "Russian Factory", where he developed ideas about the development of capitalism in Russia and defended it in the same year as a doctoral dissertation.

New, twentieth century Tugan-Baranovsky meets disgraced scientists, expelled from the capital for participating in student unrest. Petersburg, with the permission of the authorities, he returned in 1905.

In subsequent years, Tugan-Baranovsky was interested in the problems of the development of the cooperative movement. Since 1908, he was a member of the leadership of the "Committee on rural, savings and industrial partnerships." In 1909, Tugan-Baranovsky began to publish the journal Vestnik Kooperatsia. And in 1916, his work "The Social Foundations of Cooperation" was published. At the same time, a number of his works on socialism were published, and in 1918 - one of the most famous - "Socialism as a positive doctrine."

Before the revolution, Tugan-Baranovsky's works were published several times, in particular the work where he most fully outlined his economic views:

M.I. Tugan-Baranovsky. "Fundamentals of Political Economy". Pg., Pravo, 1917.

As for our time, a number of works by Tugan-Baranovsky have been published in recent years, in particular:

M.I.Tugan-Baranovsky. "Periodic industrial crises." M., Nauka, 1997.

M.I.Tugan-Baranovsky. "Socialism as a positive doctrine." In the book. "The image of the future in Russian socio-economic thought of the late 19th and early 20th centuries." Reader. M., 1994.

M.I.Tugan-Baranovsky. "Social foundations of cooperation." In the book. "The image of the future in Russian socio-economic thought of the late 19th and early 20th centuries." Reader. M., 1994.

Kondratyev N. D.

N.D. Kondratiev (1892-1938), Russian economist. Born in the Kostroma province, into a peasant family. He received his education in parish and church-teacher schools, at the College of Agriculture and Gardening (1907-1908), as well as at the St. Petersburg general education courses of A. S. Chernyaev (1908-1911).

In 1911, Kondratiev passed the matriculation exams as an external student at the Kostroma Gymnasium, and in the same year he entered the Faculty of Law of St. Petersburg University. While studying at the university, Kondratiev took part in a scientific circle led by Tugan-Baranovsky, who had a great influence on him. In November 1915, on the recommendation of prof. I. I. Chistyakov, the Faculty of Law made a petition to leave Kondratiev at the university for “preparation for a professorship in the department of political economy and statistics.” The request was granted.

In 1916, while continuing his scientific activities at the university, N.D. Kondratyev began working as the head of the statistical and economic department of the Zemstvo Union of Petrograd. This period dates back to the shift of his interests to agrarian problems. In October 1917, Kondratiev was appointed associate minister of food in the last composition of the Provisional Government, and in November 1917, Kondratiev became a member of the Main Land Committee. In 1919, his scientific interests led him to the Petrovsky Agricultural Academy (K. A. Timiryazev Agricultural Academy), where in 1920 Kondratiev became a professor, and in 1923 head of the department “Teaching of Agricultural Markets.”

An important event for Kondratiev was the formation in October 1920 of the Institute for the Study of Economic Market Conditions (Conjuncture Institute), which Kondratiev headed from the beginning of its foundation until 1928, until his resignation. It was to this period that the writing of the work that brought him world fame "Great cycles of conjuncture" (1922) belongs.

In 1930, Kondratiev was arrested in the case of the so-called "Labor Peasant Party", and in 1938 he was executed by a second sentence in his case.

The work of N. D. Kondratiev “Large Cycles of Conjuncture” and a number of other works can be found in the book:

N.D.Kondratiev. "Problems of economic dynamics". M., Economics, 1989.

Recommended reading

1. Anthology of economic classics. M., 1993

2. Blaug. Economic thought in retrospect. M., 1994

3. Mayburd E. M. Introduction to the history of economic thought. M., 1996

4. Browning. Modern economic theories are bourgeois concepts. M., 1987

5. Pesenti. Essays on the political economy of capitalism. M, 1976.

6. Seligman P. Main currents of modern economic thought. M., 1968.

7. Modern economic thought. M., 1981. parts 1-4.

8. Anikin. The youth of science. M., 1979.

9. Marshall. Principles of political economy. M., 1983.

10. Mill J. Fundamentals of political economy. M., 1980.

11. Keynes J. General theory of employment, interest and money. M., 1978.

12. Galbraith J. Economic theories and goals of society. M., 1976.

13. League. Economic theory of welfare. M., 1989.

14. Robinson J. Economic theory of imperfect competition. M., 1986.

15. Tugan-Baranovsky M. I. Favorites. M., 1997.

16. Hayek. Detrimental arrogance. M., 1992.

17. Harris. Monetary theory. M., 1990.

18. Hicks. Cost and capital. M., 1988.

19. Theory of consumer behavior. St. Petersburg, 1993.

Author: Agapova I. I.

<< Back: Conclusion

We recommend interesting articles Section Lecture notes, cheat sheets:

▪ Management. Crib

▪ Criminal executive law. Lecture notes

▪ Obstetrics and gynecology. Crib

See other articles Section Lecture notes, cheat sheets.

Read and write useful comments on this article.

<< Back

Latest news of science and technology, new electronics:

The existence of an entropy rule for quantum entanglement has been proven 09.05.2024

Quantum mechanics continues to amaze us with its mysterious phenomena and unexpected discoveries. Recently, Bartosz Regula from the RIKEN Center for Quantum Computing and Ludovico Lamy from the University of Amsterdam presented a new discovery that concerns quantum entanglement and its relation to entropy. Quantum entanglement plays an important role in modern quantum information science and technology. However, the complexity of its structure makes understanding and managing it challenging. Regulus and Lamy's discovery shows that quantum entanglement follows an entropy rule similar to that for classical systems. This discovery opens new perspectives in the field of quantum information science and technology, deepening our understanding of quantum entanglement and its connection to thermodynamics. The results of the study indicate the possibility of reversibility of entanglement transformations, which could greatly simplify their use in various quantum technologies. Opening a new rule ... >>

Mini air conditioner Sony Reon Pocket 5 09.05.2024

Summer is a time for relaxation and travel, but often the heat can turn this time into an unbearable torment. Meet a new product from Sony - the Reon Pocket 5 mini-air conditioner, which promises to make summer more comfortable for its users. Sony has introduced a unique device - the Reon Pocket 5 mini-conditioner, which provides body cooling on hot days. With it, users can enjoy coolness anytime, anywhere by simply wearing it around their neck. This mini air conditioner is equipped with automatic adjustment of operating modes, as well as temperature and humidity sensors. Thanks to innovative technologies, Reon Pocket 5 adjusts its operation depending on the user's activity and environmental conditions. Users can easily adjust the temperature using a dedicated mobile app connected via Bluetooth. Additionally, specially designed T-shirts and shorts are available for convenience, to which a mini air conditioner can be attached. The device can oh ... >>

Energy from space for Starship 08.05.2024

Producing solar energy in space is becoming more feasible with the advent of new technologies and the development of space programs. The head of the startup Virtus Solis shared his vision of using SpaceX's Starship to create orbital power plants capable of powering the Earth. Startup Virtus Solis has unveiled an ambitious project to create orbital power plants using SpaceX's Starship. This idea could significantly change the field of solar energy production, making it more accessible and cheaper. The core of the startup's plan is to reduce the cost of launching satellites into space using Starship. This technological breakthrough is expected to make solar energy production in space more competitive with traditional energy sources. Virtual Solis plans to build large photovoltaic panels in orbit, using Starship to deliver the necessary equipment. However, one of the key challenges ... >>

Random news from the Archive The origin of the hollow in the tree 30.06.2012 Many inhabitants of the forest use hollow trees for housing. How does a hollow occur? Two ways, answers a group of ecologists from Poland, Canada and Argentina, who have studied this issue in the forests of almost all the continents of the Earth. Either due to rotting wood, or the efforts of woodpeckers (less often - other birds, such as some species of tits and nuthatches), but the role of these two processes is different on different continents. So, in North America, 77% of hollows are formed due to woodpeckers and do not overgrow for a long time, so that more than one generation of birds or mammals can live in them. In Eurasia and South America, on the contrary, rotting plays the main role, and cavities hollowed out by woodpeckers (there are only 26%) quickly overgrow. In Australia and New Zealand, hollows result only from decay, and the process can take more than 200 years.

Other interesting news:

▪ Salt was sprinkled on the tadpole's tail

▪ Autonics CT Series Multifunctional Counters/Timers

▪ 10 Gbps fiber optic transmitters

▪ Cleaning robot

▪ Glasses will always be clean

News feed of science and technology, new electronics

Interesting materials of the Free Technical Library:

▪ section of the site Biographies of great scientists. Article selection

▪ article There was a game! Popular expression

▪ article What is the difference between the Mexican pyramids and the Egyptian ones? Detailed answer

▪ article Copier. Job description

▪ article Electronic ballasts. Main directions of development. Encyclopedia of radio electronics and electrical engineering

▪ battery tester article. Encyclopedia of radio electronics and electrical engineering

Leave your comment on this article:

All languages ​​of this page

Arabic	Hebrew	Polish
Bengali	Hindi	Portuguese
Chinese	Italian	Spanish
English	Japanese	Turkish
French	Korean	Ukrainian
German	Malay	Vietnamese

Home page | Library | Articles | Website map | Site Reviews

www.diagram.com.ua
2000-2024