Great Minds of the Free Market System Descriptive Essay by Quality Writers

Great Minds of the Free Market System
This paper presents brief summaries of the lives and contributions of nine economists and philosophers.
# 99223 | 1,000 words | 8 sources | APA | 2007 | US
Published on Nov 01, 2007 in History (Leaders) , Economics (General) , Philosophy (General) , Political Science (Marx / Engels)

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This paper explains that, from early philosophers such as Plato to economics' founding father Adam Smith and to Noam Chomsky and his economic and political criticisms, great minds have formed the concept of the free market system. The author points out, for example, that David Ricardo, born in 1772, established the labor theory of value and developed the concept of comparative advantage. The paper presents, as another example, Milton Friedman, born in 1912, who proposed that the predictive power of theoretical study was of higher importance than the assumptions with which one entered into research.

Table of Contents:
Adam Smith
J.S. Mill
Karl Marx
Thomas Malthus
David Ricardo
John Meynard Keynes
Milton Friedman
Noam Chomsky

From the Paper:

"Noam Chomsky was born in 1928 and his primary studies and academic contributions have been in the field of linguistics. Chomsky is academically recognized for the Chomsky Hierarchy which is a type of classification system of languages relative to their generative power. Chomsky composed his seminal work, "The Logical Structure of Linguistic Theory", in which he established himself as a preeminent linguist. Yet, Chomsky's greatest contribution, perhaps, to economics has been his engagement of the political establishment and its economic and political policies."

Sample of Sources Used:

  • Glass, D. V., ed. (1953). Introduction to Malthus. London: Watts.
  • Helburn, Suzanne W. and David F. Bramhall, eds. (1986). Marx, Schumpeter, & Keynes: A Centenary Celebration of Dissent. Armonk, NY: M.E. Sharpe.
  • Hollander, Samuel. (2000). John Stuart Mill on Economic Theory and Method. London: Routledge.
  • Moggridge, D. E. (1995). Maynard Keynes: An Economist's Biography. New York: Routledge.
  • Raffaelli, Tiziano. (2003). Marshall's Evolutionary Economics. New York: Routledge.

Cite this Descriptive Essay:

APA Format

Great Minds of the Free Market System (2007, November 01) Retrieved February 28, 2021, from

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