ENVS 1000 Questions and Answers

Adam Smith Ans- wrote the wealth of nations labour is the source of value formulated capitalism invisible hand of the market- self regulating mechanism Thomas Malthus Ans- Principle of Population- population increases more than resources can supply Introduced scarcity economic carrying capacity David Ricardo Ans- Challenges Adam smith vision of harmonious accumulation who gets what and who benefits? Law of rent- focused on production John Stuart Mill Ans- main goal of capitalist as production not distribution not seen as an end destination favored gradualist reforms and gov intervention Karl marx Ans- community and capitalism where irreconcilable Two fold freedom history as a dynamic process Two fold freedom Ans- freedom from state + freedom for actualizing ones individual destiny Alfred Marsha