labour theory of value 33, 55, paradox of thrift 116
70
laissez-faire 48-9, 62
Pareto, Vilfredo 95-7, 161
Pareto optimality 95, 134
Sen , Amartya 161
Seven Years War 47
Sharpe, William F. 148, 149
landowners, tax on 48
Pareto principle (80-20 rule) 96, silver crisis 36-7
leisure class 110
161
linear science 171
Petty, William 39-44, 113
Locke, John 29, 32-6, 40, 44, Phillips , A.W. 128
Smith , Adam 50-63, 161
social contract 33
social justice 131 , 156-8
67
Phillips curve 128, 138
Solow, Robert 151
London School of Economics Physiocrats 45-9
Soros, George 169
101
Plato 8
South Sea bubble 28, 165
Lucas, Robert 143, 149
pleasure, maximization 87
Poor Law 65
specialization 61-2
spontaneous order 106, 167
Malthus, Thomas 63-6, 70, population growth 63-6, 70-2 stability, assumption of 99
76, 153
Mandelbrot, Benoit 165
post-Pythagorean economics stagflation 138-9
172
standard deviation 14 7-8
marginal productivity 107 poverty 24
state , power of 24
marginal utility 87, 104
power-law distribution 96, 161, steady state 77, 81 , 155-6
market oscillations 89
markets, ideal 91
166-7
price elasticity 101
Markowitz, Harry 148, 149 prices
Marshall, Alfred 102-3
natural 56-7, 59
Marx, Karl 65, 73, 79-84, 122 nominal 54, 56
steam engine 62
Steuart, James 53
subjective value 105
subprime crisis 148, 169-70
Summers, Lawrence 158
maximization 129
mechanization 60
real 54, 56
proletariat 79
sunspots 100
supply and demand 36, 53,
Menger, Carl 104-6
property rights 33
mercantilism 21-3, 35, 61 Pythagoras 5-7, 172
Mill, John Stuart 70, 74-7, Pythagorean means 9
131
Pythagoreans 10
Minsky, Hyman 164
85, 167
surplus value 80
sustainability 156, 172
tax 40
Minsky Moment 164
Mirabeau , Marquis de 45
misery index 138
quantity theory of money 19, Thatcher , Margaret 126
112
Quesnay, Fran~ois 44-7
Turgot, Jacques 49
Tversky, Amos 159
monetarism 113, 137-42 Quetelet, Adolphe 90 money, value of 34
uncertainty 131 , 168
money supply 137, 139
rational economic man 98, 110, unemployment 115-16
multiplier effect 117
Mun, Thomas 22-3
music 6
136, 163, 168
rational expectations 142-3
"rational mechanics" 26-7
rational society 69
and inflation 128, 138
"natural" rate 140
usury 11, 14, 15, 23
utilitarianism 67-8, 74
natural capital 155
Navarrus 20
neoclassical economics
97-9, 134
neoclassical synthesis
126-7, 130
network theory 166
recessions 116-20
reductionist theory 27, 168
resources, conserving 155
"Ricardian Vice" 73
Ricardo , David 70-3, 76-7, 81,
156
Robinson, Joan 130
New Deal 120
Romans 13
Newton, Isaac 26-8, 32, 40, Royal Society 40, 42
168
nonlinear dynamics 166
normal distribution (bell curve) 147, 165
North, Dudley 38
Samuelson, Paul 129, 149
Scholastic economics 17
Scholes, Myron 148, 149
Schumpeter, Joseph 73, 106,
number, worship of 5-6
Oikonomikos 7
123-5
Scottish Enlightenment
51-2
Veblen, Thorstein 109-10,
136, 162
volatility 147-8
Walras, Leon 92-5, 97,
124, 132
Waring, Marilyn 163
Watt, James 62
wealth distribution 75
production 75
World Bank 121, 150
Xenophon 7, 37, 60
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