Economics Atlas

How Wealth Is Ordered
Atlas Trail

The Names Behind the Ideas: Six Economists This Atlas Was Missing

12 stops

Six figures whose ideas this atlas already described in its own concept pages, without a page of their own to click through to: Vilfredo Pareto (Pareto efficiency), Jean-Baptiste Say (Say's law), Joseph Schumpeter (creative destruction), Richard Kahn (the fiscal multiplier, working a step behind his more famous collaborator Keynes), Ragnar Nurkse (the poverty trap) and Simon Kuznets (GDP itself). Each stop pairs the economist with the concept their own page already named them for.

Stop 1 of 12.
Economists

Simon Kuznets: built the modern concept of GDP for a 1934 report to Congress, and spent the rest of his career warning it should not be mistaken for a measure of welfare.

Stop 2 of 12.
Concepts

Gross Domestic Product: the measure Kuznets built, and the headline number every economy in this atlas gets judged by.

Stop 3 of 12.
Economists

Vilfredo Pareto: an Italian engineer turned economist whose 1906 Manual of Political Economy formalized what "efficient" means in welfare economics.

Stop 4 of 12.
Concepts

Pareto Efficiency: an allocation nobody can be made better off from without making someone else worse off, deliberately silent on whether it is fair.

Stop 5 of 12.
Economists

Jean-Baptiste Say: French classical economist who argued a general glut of all goods at once cannot occur, in a 1803 book most people know only through a slogan he never actually wrote.

Stop 6 of 12.
Concepts

Say's Law: the doctrine Keynesian economics was built to reject.

Stop 7 of 12.
Economists

Joseph Schumpeter: taught at Harvard from 1932, and argued capitalism advances through waves of entrepreneurial disruption, not gentle equilibrium.

Stop 8 of 12.
Concepts

Creative Destruction: Schumpeter's name for that disruption, and "the essential fact about capitalism" in his own words.

Stop 9 of 12.
Economists

Richard Kahn: Keynes's student and collaborator at Cambridge, and the actual author of the multiplier argument that made Keynes's case for public works.

Stop 10 of 12.
Concepts

The Fiscal Multiplier: Kahn's 1931 result, still debated today mainly over its exact size.

Stop 11 of 12.
Economists

Ragnar Nurkse: Estonian-American economist who helped found development economics as its own field, distinct from theory built around already-industrialized economies.

Stop 12 of 12.
Concepts

The Poverty Trap: Nurkse's 1953 "vicious circle of poverty," the trail's closing stop and the concept that started this whole wave of research.

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