Monday, August 17, 2009

50 Most Important Economic Ideas

Donald Marron is preparing a list of the 50 most important economic ideas of the past century for a book publisher. He currently has over 60 ideas, but some are older (Marxism?) and the list is not complete. A few commenters have offered suggestions, but you should check it out and see if you have any ideas for improvement.

Perhaps he is missing something about economic sociology, or economic imperialism if you prefer? By this I mean the Becker, Murphy, Freakonomics style work that applies economic principles to every other social science, starting with Becker's work on marriage. Economic sociology is broader than that of course, but perhaps that would be one place to start.

What about science, technology and information economics? How well are those covered by his list? Thoughts?

All told though, he's done a great job. It's a great study guide for anyone looking for the major ideas of the discipline.


  1. Thanks for the link and kind words. And yes, I absolutely do need something in the spirit of economic imperialism. "Rational choice" is one way to do that (i.e., the theory that people make rational choices generally), but it's not a fun bumper sticker. As you say, Becker's Theory of the Family would be a way too start, but that seems too narrow. Still pondering ...

  2. 1. Free price system. natural, free price.

    2. Fixed price system

    free price wins. free price works.

    price of shoes
    price of chicken
    price of milk
    price of comoputers
    price of cell phones
    price of semiconductors
    price of workers in usa
    price of workers in china, vietnam,
    price of gold, oil, commodities.
    price of workers in mexico, brazil, india
    price at wal-mart
    price at Target
    price at Hilton, Motel-six, Denny's

    Free-market is based on a free-price. Free-price allows prices to go up and down. Up and downs.

    1. supply

    2. demand

    3. price.

    price is where supply and demand hang out. free price system lets's the world know where supply and demand hang.

    idiots in china, USSR, india, half of world did not know this from 20th. century till century.

    Free price works
    Free price wins
    Free price is future.