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Concepts in History of Economic Thought

  1. Identify the following people, things, concepts, etc., and explain briefly their importance in the history of economic thought (three or four sentences).

 

 

The invisible hand

Water/diamond paradox

Law of population

Lottery of life

Say’s Law

Gluts

Labor-embodied theory of value

Peterloo massacre

Corn Laws

William Godwin

Industrial Reserve Army

Labor-power

Use-value

Phyllis Wallace

Particular labor-time

Tendency of the rate of profit to fall

Surplus value

Pin factory

Deer and beaver

Dialectical and Historical Materialism

SNALT

Henry Carey

Oliver Cox

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Category: Sample Questions