Journey Towards Classical Economic Thought by Peering Into the Great Minds of Prominent Economists

 Eyes Here, Readers! For you, how do you define wealth? Well, keep that thought as I will be sharing with you my infographic on how Classical Economists viewed wealth, what constitutes it, and how it can be attained. Below is Adam Smith's idea that wealth as a collection of goods and resources is capable of satisfying human wants and needs. David Ricardo's idea of wealth pointed out that there is a role of labor and productivity in creating wealth. Thomas Malthus's idea that unlike Adam Smith or David Ricardo, Malthus did not hold a traditional understanding of wealth. Robert Owen's idea that true wealth included more than just material goods and financial wealth. Henri de Saint-Simon and his views on wealth which is distinguished by an emphasis on society's overall well-being and happiness. Charles Fourier that wealth is not just economic prosperity but also personal and community enjoyment, social harmony, and individual fulfillment. And of course, John Stuart Mil...

 

Hey, Dear Readers!  Did you know some of the famous economists of the past? Well, you are in luck, as I will open your eyes to the great works of seven economists. This post shows you a timeline of my understanding of the evolution of Key Classical Economic Thought and the significant contexts of the times the classical economists lived in. There are seven classical economists mentioned in this timeline, including Adam Smith's key ideas on Laissez-Faire Economics and Market Competition, David Ricardo's key ideas on key ideas on Comparative Advantage and Economic Rent, Thomas Malthus' key idea on The Malthusian Theory of Population, Robert Owen's key idea on Utopian Socialism, Henri de Saint-Simon key idea on Industrialism, Charles Fourier's key idea on Social Harmony through Attraction, and John Stuart Mill's key idea on Utilitarianism and   Individual liberty (The Harm Principle). NOTE: FOR A CLEARER IMAGE PLEASE CHECK THE GOOGLE LINK BELOW, THANK YOU! https://...