🗊Презентация Synopsis of Adam Smith and John Maynard Keynes

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Synopsis of Adam Smith and John Maynard Keynes By Emma Shanley
Описание слайда:
Synopsis of Adam Smith and John Maynard Keynes By Emma Shanley

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Adam Smith Scottish Economist 1723-1790 Born in Kirkcaldy, Scotland 5 June 1723 School in Kirkcaldy 1737—University of Glasgow Studied at Oxford University 1740-1747 Lectured in Edinburgh and Glasgow University between 1748 to 1763. Author of The Publication “The Wealth of the Nations”
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Adam Smith Scottish Economist 1723-1790 Born in Kirkcaldy, Scotland 5 June 1723 School in Kirkcaldy 1737—University of Glasgow Studied at Oxford University 1740-1747 Lectured in Edinburgh and Glasgow University between 1748 to 1763. Author of The Publication “The Wealth of the Nations”

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The Power of the Invisible Hand Pursue individual interest Result: Benefit society in general E.g. set up business for profit and create employment for people at the same time.
Описание слайда:
The Power of the Invisible Hand Pursue individual interest Result: Benefit society in general E.g. set up business for profit and create employment for people at the same time.

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Laissez-Faire Promote free trade Build up the infrastructure of the country Provide a legal system Defend the country
Описание слайда:
Laissez-Faire Promote free trade Build up the infrastructure of the country Provide a legal system Defend the country

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Productive and Non-productive Labour Productive Produced goods for sale Making money to reinvest E.g. Baker
Описание слайда:
Productive and Non-productive Labour Productive Produced goods for sale Making money to reinvest E.g. Baker

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The Labour Theory of Value Distinguished between value in use and value in exchange. See my example below.
Описание слайда:
The Labour Theory of Value Distinguished between value in use and value in exchange. See my example below.

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The Canons of Taxation Equality– Tax payments should be proportional to income Certainty– Tax liabilities should be clear and certain Convenience: Taxes should be collected in a manner convenient for taxpayer Economy – Taxes should not be expensive to collect and should not discourage business.
Описание слайда:
The Canons of Taxation Equality– Tax payments should be proportional to income Certainty– Tax liabilities should be clear and certain Convenience: Taxes should be collected in a manner convenient for taxpayer Economy – Taxes should not be expensive to collect and should not discourage business.

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The Division of Labour Improve the productiveness of labour. For instance, the making of a single pin involves eighteen separate operations, which are entrusted to eighteen separate workmen; and the result is, that whereas one man working alone could make perhaps only twenty pins in a day, several men working together, on the principle of division of labour, can make several thousands of pins per man in one day.
Описание слайда:
The Division of Labour Improve the productiveness of labour. For instance, the making of a single pin involves eighteen separate operations, which are entrusted to eighteen separate workmen; and the result is, that whereas one man working alone could make perhaps only twenty pins in a day, several men working together, on the principle of division of labour, can make several thousands of pins per man in one day.

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Exam Questions Examples
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Exam Questions Examples

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John Maynard Keynes British Economist 1883 - 1946 Born in Cambridge, England Son of John Neville Keynes Professor of Economics at Cambridge Won a scholarship to Eton and later to Kings College Cambridge Lectured at Kings College from 1908
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John Maynard Keynes British Economist 1883 - 1946 Born in Cambridge, England Son of John Neville Keynes Professor of Economics at Cambridge Won a scholarship to Eton and later to Kings College Cambridge Lectured at Kings College from 1908

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Publications A Treatise on Money – 1930 Bestseller The General Theory of Employment, Interest and Money - 1936
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Publications A Treatise on Money – 1930 Bestseller The General Theory of Employment, Interest and Money - 1936

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Fiscal Policy
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Fiscal Policy

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The Theory of the Multiplier Injection of money into a business. Creates more income than the amount invested. The formula for the Multiplier is as follows: 1 1 – MPC + MPM + MPT
Описание слайда:
The Theory of the Multiplier Injection of money into a business. Creates more income than the amount invested. The formula for the Multiplier is as follows: 1 1 – MPC + MPM + MPT

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The Liquidity Preference Theory of Interest Rates
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The Liquidity Preference Theory of Interest Rates

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Saving and Investments Savings and Investments were not equal to each other. Savings were greater than the amount that entrepreneurs are willing to invest. Causes underemployment in the economy.
Описание слайда:
Saving and Investments Savings and Investments were not equal to each other. Savings were greater than the amount that entrepreneurs are willing to invest. Causes underemployment in the economy.

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Exam Question Examples
Описание слайда:
Exam Question Examples

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The End
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The End

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