He was an English economist who changed the discipline of economics.His most famous student, John Maynard Keynes, eventually revolutionised economics in his own way, after the Great Depression of the 1930s.
He'd been inspired by writers like Charles Dickens and Henry Mayhew to hit the pavement, to observe the insides of factories, and to make copious notes.According to Sylvia Nasar, in her 2011 book Grand Pursuit: The Story of Economic Genius, Marshall's effort to understand how businesses worked meant he came to see modern industry very differently from other economists.
"But none of these intellectuals could claim the familiarity with business and industry Marshall was acquiring," she wrote. "In their imaginary firms, productivity might grow by leaps and bounds, but wages never rose for long above some physiological maximum. Working conditions, if anything, worsened over time.
Most influential politician s are in their late 40’s to 50’s and even in their 80’s. I would like to believe they can learn something new, but if they do not know about this at their ages it unlikely they will apply the new knowledge or use it for the advantage of less fortunate.
This depression is killing us. All our stuff is in Australia and we are stuck offshore. We have made huge investments. Please listen to us we are literally begging. We are having serious mental health problems. Please extend our 485 visas extend485visas LetUsBackToAus
Evidently he didn't solve the problem we still have it!!!!
Or as I prefer: our under-educated inner-city journalists should try to learn more about the history of economics from our wider-travelled and better-informed politicians. They could start by following DavidLeyonhjelm .
A must read for ScottMorrisonMP and JoshFrydenberg before they destroy the workers rights to secure employment and their awards
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