Economic Thinkers
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Economic Thinkers
Smith, Marx, Keynes, et al. and their relevance today
Curated by Tom Lawson
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Zambia bears the brunt of China’s economic slowdown - FT.com

Zambia bears the brunt of China’s economic slowdown - FT.com | Economic Thinkers | Scoop.it
Zambia was one of Africa’s main beneficiaries when China’s economy was expanding at full tilt. With copper its key export, China’s thirst for minerals helped the southern African nation enjoy a decade of economic boom. But as concern over China’s
Tom Lawson's insight:
This will be very useful for understanding F585 OCR Economics
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Nikolai Kondratiev - Wikipedia, the free encyclopedia

Nikolai Kondratiev

Nikolai Dmitriyevich Kondratiev (in some sources also referred as Kondratieff, Russian: Никола́й Дми́триевич Кондра́тьев; 4 March 1892 - 17 September 1938) was a Russian economist, who was a proponent of the New Economic Policy (NEP), which promoted small private, free market enterprises in the Soviet Union.

Tom Lawson's insight:

With all this talk of secular stagnation, could we be entering a "Kondratieff Winter"?

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Krugman shows support from Piketty | BillMoyers.com

Krugman shows support from Piketty | BillMoyers.com | Economic Thinkers | Scoop.it
Economist Paul Krugman explains how the United States is becoming an oligarchy - the very system our founders revolted against.
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This crisis has proved that capitalism works - Telegraph

This crisis has proved that capitalism works - Telegraph | Economic Thinkers | Scoop.it
The G8 protesters have little support – there’s no public appetite to blame the free market
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A B C - TNML

A B C - TNML | Economic Thinkers | Scoop.it
TNML's Economics Website
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Exam technique the Alec Baldwin way.

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The Slope of the Aggregate Demand Curve

The Slope of the Aggregate Demand Curve | Economic Thinkers | Scoop.it
This article explains why the aggregate demand curve slopes downwards.
Tom Lawson's insight:

thanks to @jodiecongirl for quite a clear explanation of why AD slopes downwards.

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Tom Lawson's curator insight, May 2, 2013 2:36 AM

thanks to @jodiecongirl for quite a sound explanation of why the AD curve slopes downwards.

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Masters Of Money: 2/3 - Friedrich Hayek (BBC Documentary Series)

BBC economics editor Stephanie Flanders examines how three extraordinary thinkers, Keynes, Hayek and Marx, helped shape the 20th century. Friedrich August Ha...
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Keynes and myself - Samuel Brittan speech at the Winton Institute for Monetary History, Oxford, 18/10/2010

Samuel Brittan - a collection of the writings of the leading economic commentator and Financial Times columnist
Tom Lawson's insight:

Scroll down to examine good arguments about deficits from a Keynesian point of view.

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Paul Ormerod: What would Keynes have said?  Ouija board active!

The loss of triple A status on UK government bonds has intensified the demands for a Plan B.   So-called Keynesians demand an increase in both public spending and the public sector deficit.
Tom Lawson's insight:

A brief and simple description of the valid point that Keynes was interested in the monetary sector and behavioural economics. The simplistic focus on fiscal policy is a better description of some neo-Keynesian policymakers but not the great man himself.

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Keynes: the return of the Master

Keynes: the return of the Master | Economic Thinkers | Scoop.it
Current affairs, world politics, the arts and more from Britain's award-winning magazine
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Review of two recent books on Keynes.

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Five Myths and a Menace | Standpoint

Five Myths and a Menace | Standpoint | Economic Thinkers | Scoop.it
Standpoint magazine
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My father's lecture dwells unnecessarily on the global warming debate, but there are other bits which will be useful for seeing how Smith can be applied today. A few swipes at Keynes too...

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A voice for the poor

A voice for the poor | Economic Thinkers | Scoop.it

"Aid increased the patronage and power of the recipient governments, which often pursued policies that stifled entrepreneurship and market forces. Indeed, aid had proved “an excellent method for transferring money from poor people in rich countries to rich people in poor countries.”

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Peter (Lord) Bauer was an iconoclastic development economist that turned that discipline on its head. Underrated and hardly known, he was in many ways the prophet of the Washington Consensus. Very useful eval for A-level Development Economics.
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Quotable Mises, The

Quotable Mises, The | Economic Thinkers | Scoop.it
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This google book allows you to peruse your favourite Ludwig von Mises quotations, when you are in one of those Austrian moods.

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Bastiat: Selected Essays, Chapter 1, What Is Seen and What Is Not Seen | Library of Economics and Liberty

Bastiat: Selected Essays, Chapter 1, What Is Seen and What Is Not Seen | Library of Economics and Liberty | Economic Thinkers | Scoop.it
What would become of the glaziers if no one ever broke a window?" Now, this formula of condolence contains a whole theory that it is a good idea for us to expose, flagrante delicto, in this very simple case, since it is exactly the same as that which, unfortunately, underlies most of our economic institutions. Suppose that it will cost six francs to repair the damage. If you mean that the accident gives six francs' worth of encouragement to the aforesaid industry, I agree. I do not contest it in any way; your reasoning is correct. The glazier will come, do his job, receive six francs, congratulate himself, and bless in his heart the careless child. That is what is seen. But if, by way of deduction, you conclude, as happens only too often, that it is good to break windows, that it helps to circulate money, that it results in encouraging industry in general, I am obliged to cry out: That will never do! Your theory stops at what is seen. It does not take account of what is not seen. It is not seen that, since our citizen has spent six francs for one thing, he will not be able to spend them for another. It is not seen that if he had not had a windowpane to replace, he would have replaced, for example, his worn-out shoes or added another book to his library. In brief, he would have put his six francs to some use or other for which he will not now have them.
Tom Lawson's insight:
The multiplier effect is often misunderstood to laud any wasteful spending. The parable of the broken windows shows us why this is false. It also gives a nice use of the concept of opportunity cost. Bastiat here is widely accepted to be the father of this vital concept in this very essay.
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Generation Boris

Generation Boris | Economic Thinkers | Scoop.it
A GROUP of 17- and 18-year-olds assembled in their lunch hour at a diverse London school offers a cross-section of political views. Some are more left-wing than...
Tom Lawson's insight:

Great article, and nice to know that my friend Dr James Tilley of Oxford University is making a splash in the press.

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Modern economics for the diligent seeker of truth - Samuel Brittan - The Financial Times 31/05/13

Samuel Brittan - a collection of the writings of the leading economic commentator and Financial Times columnist
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Masters Of Money: 1/3 - John Maynard Keynes (BBC Documentary Series)

BBC economics editor Stephanie Flanders examines how three extraordinary thinkers, Keynes, Hayek and Marx, helped shape the 20th century. John Maynard Keynes...
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Masters Of Money: 3/3 - Karl Marx (BBC Documentary Series)

BBC economics editor Stephanie Flanders examines how three extraordinary thinkers, Keynes, Hayek and Marx, helped shape the 20th century. Karl Heinrich Marx ...
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Right for the wrong reasons

Right for the wrong reasons | Economic Thinkers | Scoop.it
TYLER COWEN has a very interesting post explaining that he agrees in principle with more liberal economic commentators on increasing infrastructure spending and...
Tom Lawson's insight:

Note 'liberal' in this article is the American use, so means 'left-wing'.

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Occupy Wall Street: what is to be done next?

Occupy Wall Street: what is to be done next? | Economic Thinkers | Scoop.it
Slavoj Žižek: How a protest movement without a programme can confront a capitalist system that defies reform
Tom Lawson's insight:

Slavoj Zizek is one of the most popular, though controvesial, marxist public intellectuals.

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Robert Skidelsky - Keynes in the Long Run

Robert Skidelsky - Keynes in the Long Run | Economic Thinkers | Scoop.it
Lord Skidelsky, professor of political economy, politician, writer, prize-winning biographer of J.M. Keynes, syndicated columnist, Russia expert, financial crisis expert
Tom Lawson's insight:

An article full of depth with plenty of material which is useful for Pre-U economic theory. It is written before the financial crisis so has a less triumphalist (but rather less relevant) feel than other Skidelsky articles.

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Is Michael Gove a “covert” Marxist revolutionary? | Local Schools Network

Tom Lawson's insight:

"The nation which invented the concept of meritocracy, where the idea of the career open to talent had propelled social and economic progress has seen social mobility stall. And then move backwards. Wherever you look - Cabinets or Shadow Cabinets - newspaper editorial conferences or FTSE 100 boardrooms - the nation's galleries or bishop's palaces - the positions of power and influence are overwhelmingly held by the privately-educated or the children of middle class professionals. The social differences which existed in our society before the Nineteen-Sixties have - in all too many cases - not just been perpetuated but crystallised."

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