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September 2012 Policy Study, Number 12-9


A Short History of Economic Theory

by Adam Wachholz

    Executive Summary
    Adam Smith: Laissez-Faire and the Beginning of Economic Thought
    Classical Economic Theory: From Adam Smith to Jean-Baptiste Say
    Karl Marx: The Rise of Collectivism
    John Maynard Keynes: the Triumph of Government Interventionism
    Milton Friedman: Rebirth of Liberty
    The Gold Standard: Medium, Measure, Standard, and Store
    War of Ideas: Economic Growth and Stabilization Policy


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