Neoliberal Economic Thinkers

Neoliberal Economic Thinkers

Analysis of the four Economic Thinkers

Carl Menger was born on 23/02/1840 in New Sandes (Galicia), died in Vienna on 27/02/1921. The economist Carl Menger derived “Principles of Economics "as the spiritual father of Austrian school of marginal utility. These principles, which appeared in 1871, he proves that the value of an asset by the subjective appreciation of his most recent unit determined as marginal utility analysis. Thus he was able to find the first time, a final act of pricing. Even as a young officer, as he had to write for the "Wiener Zeitung", market reports, he had dealt with this problem. He discovered that the ultimate source is the pricing of the esteem in that consumers have before purchasing the product.

The whole life of Alfred Marshall was at Cambridge University. There he studied and later taught and was engaged in scientific work. At the time Marshall Students still studied economics at the "Principles of Political Economy," Marshall decided to correct this situation and in 1890 published his book "Principles of economics." Marshall came up with a very simple way to show an idea in a diagram. It turned out that the supply and demand is very convenient to represent the lines on the graph in the coordinates of the "price" - "quantity". Marshall outlined the demand is D, and the proposal S. Similarly, the price was designated P and the number of Q. On the one hand, the higher the price, the fewer consumers can purchase goods. On the other hand, the higher the price, the more manufacturers want to produce the goods, diverting their resources from the production of other goods. The demand curve thus has a negative slope, and the supply curve. At some point, these curves intersect. In other words, there is some price at which quantity demanded is equated with the value of deals. Naturally, the theory of Marshall on closer inspection looks a bit more complicated. There people who always go back and look at each of the four parts in more detail.

Max Weber (1864 - 1920) was an eminent German sociologist and politician. In sociology, he pulled out a synthesis of the theoretical and systematic and his-individualizing method in the social sciences. Its significance for the philosophy, especially for the epistemology and philosophy of science is its theory of value freedom. Weber's most important work of social-economic perspective, the sociology of religion studied on the importance of the religion of the economic behavior of members of a culture, a people or a particular social class. Attributed to the fundamental importance that the religious weaver is his explanation of economic behavior, often as a counterpoint to Marx's historical materialism viewed idealistically oriented social theorists represent the other hand, out of what Marx and Weber connects.

John Maynard Keynes was a British economist. His ideas, substrate of a new school of economic thought called Keynesian or new economics, a decisive influence on the design of economic policies in many countries since ...