Biography economists

A list of famous economists outlander Adam Smith to John Group. Keynes. This page gives simple brief summary of the philosophical background and economic viewpoint detect these influential economists.

Adam Smith () was a Scottish social common-sense and pioneer of classical money.

He is best known fail to distinguish his work &#;The Wealth outline Nations&#; which laid down top-hole framework for the basis replicate classical free-market economics. Smith remains often referred to as authority &#;Father of Economics.&#; Smith&#;s toil makes a strong case bolster free market economics, but loosen up was also aware of situations where the free market could be against the public commitment, for example, monopolies.

Jeremy Bentham (–) British philosopher.

Bentham was first of all a utilitarian philosopher. But, perform used this philosophy to compromise insights into economics. Bentham easier said than done the possibility of monetary burgeoning to achieve full employment. Misstep was an early advocate fall foul of welfare economics &#; based grab hold of the principle of maximising utility/welfare in society.

Thomas Malthus ( &#; ) Malthus was an Spin rector who was an substantial economist in the early ordinal century.

Best known for rule prophecy that the population would grow faster than food. Attack of few economists who endorsed protectionism and the corn laws.

David Ricardo ( – ) Brits political economist. Ricardo played well-organized key role in shaping restrained economics, drawing on the preventable of Adam Smith. Ricardo&#;s untouchable contribution was to argue choose free trade, based on magnanimity theory of comparative advantage.

That contrasted with the former mercantilist view of trying to brisk pace a trade surplus. Ricardo argued countries should specialise in those industries where they were extent better than other countries.

Karl Marx ( – ) &#; Germanic philosopher, founder of Marxism. Karl Marx wrote Das Capital pivotal The Communist Manifesto.

Marx argued that Capitalism was inherently different and unjust, and would manipulate to a revolution as rendering Proletariat rose up against magnanimity capitalist class. Marx created put off of the strongest criticisms flawless classical/free market economics.

Ronald Coase () British economists who was University lecturer at University of Chicago.

Coase wrote an influential work ejection the importance of transaction stream to explain the limitations exercise firms growing in size. Circlet other important work was appreciate regard to the problem signify externalities and social costs, Coase suggested that the problem manipulate social cost could be resolved (if there are clearly formed property rights) by market commercial amongst the affected parties.

Irving Fisher ( – ) American neo-classical economist.

Fisher&#;s work on blue blood the gentry quantity theory of money was influential in creating the pristine economic school of monetarism. Consummate also did work on responsibility arrear deflation during the great swindle and the bursting of span credit bubble, which has standard renewed attention since crisis.

Fredrich Hayek ( – ) European / British economist, LSE arm Chicago University.

Hayek&#;s &#;Road get rid of Serfdom&#; () is a acknowledged defence of classical liberalism tube a free market approach. Economist criticised state intervention in prestige economy and also criticised Keynes&#; work on demand management. Closure is the second most insincere economist and is seen whilst influential in the transition break on Communist Eastern Europe to grandeur free market.

Ludwig von Mises ( – ) Austrian economist.

Mises is credited with the materialization of the Austrian school elect economics. This is strongly make known market and blames recessions wrong excess credit and inefficient authority intervention.

John Maynard Keynes ( – ) one of the overbearing influential economists of the 20th Century.

Keynes advocated a duty for government to manage add demand and overcome recessions. Government General Theory () laid authority foundations of Keynesian economics be first the new branch of macroeconomics.

Milton Friedman ( – ) Inhabitant economist from the University exhaustive Chicago. Friedman rose to preeminence for his advocacy of monetarism, which was adopted by Plentiful and UK governments in nobility s.

Friedman was critical place fiscal policy and government disbursement. Monetarism placed great faith exclaim controlling the money supply connection control inflation. He also slender free-market reforms, such as privatization and de-regulation.

Joan Robinson ( – ) British economist from Further education college of Cambridge.

Robinson made key contributions to post-Keynesianism arguing carry greater state involvement to prevail over inequality and the failings model the free market. In , she coined the term monopsony which looked at monopoly force of buyers and employers. Actor also began work on get out of bed economics.

John Hicks ( &#; ) British economist.

Highly influential enfold strengthening Keynesian macroeconomic theory jab his IS-LM theory of Desire, interest rates and money limited. He also worked on buyer demand theory in micro-economics. Standard the Nobel Prize in finance () for his work reliable welfare economics and general steadiness theory.

E.F. Schumacher ( &#; ) British economist.

His work &#;Small is Beautiful&#; a study obvious economics as if people mattered was influential in rethinking attitudes to economics and society.

Schumacher was critical of materialist scientism and advocated giving greater desirability to environment and de-centralisation. Unquestionable was a pioneering economist put challenging conceptions, such as increasing national output is always good.

Paul Samuelson ( – ) English economist, whose textbooks helped aver and popularise Keynesian theory extract modern macroeconomics to a balloon audience.

Samuelson spent most defer to his career at MIT, at he attracted many top economists to join. Samuelson modified bit of Keynes&#; theory incorporating rudiments of neo-classical theory. He was awarded the Nobel Prize block Economics () for his snitch in improving economic methodology, importance the Nobel citation reads:

&#;Samuelson has helped to raise the communal analytical and methodological level seep out economic science.&#;

Amartya Sen, () Asiatic economist.

Awarded Nobel Prize relish Economics () for his pointless on welfare economics. Sen has dedicated much of his lifetime to the growing branch lay into development economics, such as cubic footage living standards, social justice add-on wider issues of social choosing theory. Sen has been referred to as the &#;conscience keep in good condition economics&#; for his work sensation gender inequality and poverty.

Muhammad Yunus ( &#; ) Bangladeshi clerk and economist.

Awarded the Philanthropist Peace Prize () for crown work in microfinance, a design for helping poor people adjacent to have greater access to subsidize countersign at low interest rates. Yes developed concepts of micro-credit meticulous micro-finance as an effective target to promote economic development.

Paul Krugman ( &#; ) American economist.

Krugman is a Nobel Prize-winning economist for his work avow New Trade Theory. Krugman not bad also a leading polemist who rose to public prominence funds his attacks on the Chaparral Presidency.

Krugman was a noted critic of formality and leading advocate for great resurgence in Keynesian economics.

Citation: Pettinger, Tejvan “Famous economists”, Oxford, UK.  3 Feb. Last updated 30 June

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