Final Study Guide (Ch.12-15)

Central Michigan University Eco 110 (Economics & Society) Study Guideâ€" last Exam Lecture 12: Classical economists: Optimists & Pessimists Possible T-F, multiple choice, matching position People: Jean-Baptiste Say o The French Adam Smith o French economist during the time of Napoleon o Wrote Says Law of Markets in 1803 o Napoleon wanted to convey Say an official position as economic consultant to the government. However, Napoleon wanted him to support protectionism, Say refused. He finish up quitting government and manufacturing textiles. o Says Laws: ? furnish and Demand Eliminated Surpluses ? Flexible prices interest rates and wages well-defined markets Demand is constituted by production.

Luddites o Textile constancy workers that rebelled against technology by throwing monkey-wrenches into machines in attempts to break new technical advances within the industry ? Anti-Technology ? Fear of Technology Frederic Bastiat o Wrote Petition of the Candlemakers o Economist / Journalist o Follower of Say o Made the case for bare(a) Trade using satire in Economic Sophisms William Godwin o Father of Mary Shelley o Pushed for Utopian Idealism or a perfect night club Mary Shelley o Wrote Frankenstein o Pessimistic o Trying to create a perfect society can only lead to the creation of monsters Thomas Malthus o Pessimistic Economist o Two Laws Paul Ehrlich o biologist / Modern Day Malthusian (Pessimist) o Wrote The Population attack o Believed food supply could not keep up with population o Predicted large famine and millions in poverty by the 1970s Julian Simon o Optimist ? Forecasts ongoing... If you want to get a luxuriant essay, order it on our website: Ordercustompaper.com

If you want to get a full essay, wisit our page: write my paper