Friedrich Hayek. Friedrich August von Hayek CH FBA (/ˈhaɪək/; German: [ˈfʁiːdʁɪç ˈaʊ̯ɡʊst ˈhaɪɛk]; 8 May 1899 – 23 March 1992), often referred to by his initials F.
A. John Maynard Keynes. John Maynard Keynes, 1st Baron Keynes, CB, FBA (/ˈkeɪnz/ KAYNZ; 5 June 1883 – 21 April 1946) was a British economist whose ideas have fundamentally affected the theory and practice of modern macroeconomics, and informed the economic policies of governments.
He built on and greatly refined earlier work on the causes of business cycles, and is widely considered to be one of the founders of modern macroeconomics and the most influential economist of the 20th century. His ideas are the basis for the school of thought known as Keynesian economics, and its various offshoots. In 1999, Time magazine included Keynes in their list of the 100 most important and influential people of the 20th century, commenting that: "His radical idea that governments should spend money they don't have may have saved capitalism.
" He has been described by The Economist as "Britain's most famous 20th-century economist. Milton Friedman. Friedman's challenges to what he later called "naive Keynesian" theory began with his 1950s reinterpretation of the consumption function.
Thomas Robert Malthus. British political economist Thomas Robert Malthus FRS (; 13/14 February 1766 – 23 December 1834) was an English cleric, scholar and influential economist in the fields of political economy and demography. Malthus saw population growth as being inevitable whenever conditions improved, thereby precluding real progress towards a utopian society: "The power of population is indefinitely greater than the power in the earth to produce subsistence for man". As an Anglican cleric, he saw this situation as divinely imposed to teach virtuous behaviour. Malthus wrote that "the increase of population is necessarily limited by the means of subsistence"; "population does invariably increase when the means of subsistence increase"; and "the superior power of population is repressed by moral restraint, vice and misery".
David Ricardo. David Ricardo (18 April 1772 – 11 September 1823) was a British political economist.
He was one of the most influential of the classical economists, along with Thomas Malthus, Adam Smith, and James Mill. Perhaps his most important legacy is his theory of comparative advantage, which suggests that a nation should concentrate its resources solely in industries where it is most internationally competitive and trade with other countries to obtain products no longer produced nationally.
In essence, Ricardo promoted the idea of extreme industry specialization by nations, to the point of dismantling internationally competitive and otherwise profitable industries. Ricardo took as a given the existence of a national industry policy aimed at promoting some industries to the detriment of others. For Ricardo some form of Central Economic Planning was a necessity. Alfred Marshall. Life and career Marshall was born in London.
His father was a bank cashier and devout Evangelical. Marshall grew up in Clapham and was educated at the Merchant Taylors' School and St John's College, Cambridge, where he demonstrated an aptitude in mathematics, achieving the rank of Second Wrangler in the 1865 Cambridge Mathematical Tripos. Marshall experienced a mental crisis that led him to abandon physics and switch to philosophy. John Maynard Keynes. Parkinson's law. UK First edition book cover Originally, Parkinson's law is the adage that "work expands so as to fill the time available for its completion", and the title of a book which made it well-known.
However, in current understanding, Parkinson's law is a reference to the self-satisfying uncontrolled growth of the bureaucratic apparatus in an organization. History Articulated by Cyril Northcote Parkinson as part of the first sentence of a humorous essay published in The Economist in 1955 and since republished online, it was reprinted with other essays in the book Parkinson's Law: The Pursuit of Progress (London, John Murray, 1958). He derived the dictum from his extensive experience in the British Civil Service. A current form of the law is not the one Parkinson refers to by that name in the article, but a mathematical equation describing the rate at which bureaucracies expand over time.
John Graunt. John Graunt (24 April 1620 – 18 April 1674) was one of the first demographers, though by profession he was a haberdasher.
Biography Born in London, the eldest of seven or eight children of Henry and Mary Graunt. His father was a draper who had moved to London from Hampshire. In February 1641, Graunt married Mary Scott, with whom he had one son (Henry) and three daughters. He became a freeman of the Drapers' Company at age 21. Herman Hollerith. American statistician and inventor Personal life Herman Hollerith was born the son of German immigrant Prof.
Georg Hollerith from Großfischlingen (near Neustadt an der Weinstraße) in Buffalo, New York, where he spent his early childhood. He entered the City College of New York in 1875, graduated from the Columbia University School of Mines with an "Engineer of Mines" degree in 1879 at age 19, and in 1890 asked for (and was awarded) a Ph.D based on his development of the tabulating system. In 1882 Hollerith joined the Massachusetts Institute of Technology where he taught mechanical engineering and conducted his first experiments with punched cards. He eventually moved to Washington, D.C., living in Georgetown, with a home on 29th Street and a business building at 31st Street and the C&O Canal, where today there is a commemorative plaque installed by IBM.
Fritz Pfleumer. Fritz Pfleumer (20 March 1881 in Salzburg – 29 August 1945 in Radebeul) was a German-Austrian engineer who invented magnetic tape for recording sound.
Fremont Rider. Arthur Fremont Rider (May 25, 1885 – October 26, 1962) was an American writer, poet, editor, inventor, genealogist, and librarian. Early life and education Arthur Fremont Rider was born in Trenton, New Jersey on May 25, 1885. His parents were George Arthur Rider and Charlotte Elizabeth Meader Rider. The family was originally from Middletown, Connecticut, and Rider reports in his biography that his birth in New Jersey was an “accident” resulting from his father’s frequent business trips to that state, on this occasion having brought his wife.
Later in life Rider dropped his first name “for somewhat the same reasons that Joseph Rudyard Kipling did,” becoming known simply as Fremont Rider. It was in Middletown that the young Fremont Rider first developed a strong and lasting connection to libraries and library science. John von Neumann. John von Neumann (/vɒn ˈnɔɪmən/; December 28, 1903 – February 8, 1957) was a Hungarian and later American pure and applied mathematician, physicist, inventor, polymath, and polyglot. Derek J. de Solla Price. Peter J. Denning.