List of four early socialist critics of the classical school:- 1. Robert Owen 2. Francois Marie Charles Fourier 3. Louis Blanc 4. Pierre Joseph Proud Hon. Socialist Critic # 1. Robert Owen (1771-1858): Robert Owen was born at Newton in North Wales. He had to leave his schooling at an early age but continued to read books on history, biography, [...]
In this article we will discuss about the critical and positive ideas of historical school of economics. Critical Ideas of Historical School: The historical school attacked the classical economics on three grounds: (a) Universality of economic laws, (b) Crude psychological assumptions and (c) Use of deductive method. The belief of the classical writers in the Universality of their doctrines is [...]
The following points highlight the two main economic ideas of Cournot. The economic ideas are: 1. Demand Curve 2. Cournot's Model of Duopoly. 1. Demand Curve: Cournot introduced demand curve in economics. He defined market, which is often quoted by modern economists, as "Economists understand by the term market, not any particular market place in which things are brought and [...]