ECO 3132 University of Ottawa History of Economic Thought Paper

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1. Chartalist versus Metalist Views of Money in the Middle Ages: Saint Thomas Aquinas versus Nicolas

Oresme

2. Concepts of the Net Product or Surplus-Value: François Quesnay versus Karl Marx

3. Adam Smith’s Cost of Production Theory of Value versus David Ricardo’s Labour Theory of Value

4. Contrasting Classical Conceptions of Money: The Currency versus the Banking School

5. The Thomas R. Malthus/David Ricardo “Iron Law of Wages” versus Karl Marx’s Tendency towards a

Minimum Subsistence Wage

6. Opposing Theories of Micro Pricing: Marginalists (such as William Stanley Jevons) versus the

Institutionalists (such as Gardiner C. Means)

7. Competing Theories of Aggregate Price Formation and Central Banking Policy: Irving Fisher versus Knut

Wicksell

8. Underconsumption versus Overinvestment Theories of Cyclical Crises: John A. Hobson versus Friedrich

A. von Hayek

9.Alternative Explanations of Cyclical Unemployment: Karl Marx versus John Maynard Keynes

10.Public Deficit Spending in the Macro-Economy, Is It Stabilizing or Destabilizing? John Maynard Keynes

versus Friedrich A. von Hayek/Milton Friedman

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