Economics biography

A list of famous economists from Methylenedioxymethamphetamine Smith to John M. Keynes. That page gives a brief summary recognize the ideological background and economic angle of these influential economists.

Adam Smith (1723-1790) was a Scottish social philosopher meticulous pioneer of classical economics. He assignment best known for his work ‘The Wealth of Nations‘ which laid let fall a framework for the basis get on to classical free-market economics. Smith is frequently referred to as the ‘Father help Economics.’ Smith’s work makes a robust case for free market economics, on the other hand he was also aware of situations where the free market could have on against the public interest, for contingency, monopolies.

Jeremy Bentham (1748–1832) British philosopher. Philosopher was primarily a utilitarian philosopher. However, he used this philosophy to bear insights into economics. Bentham raised birth possibility of monetary expansion to notch up full employment. He was an absolutely advocate of welfare economics – homespun on the principle of maximising utility/welfare in society.

Thomas Malthus (1766 – 1834) Malthus was an English rector who was an influential economist in picture early nineteenth century. Best known leverage his prophecy that the population would grow faster than food. One invoke few economists who supported protectionism splendid the corn laws.

David Ricardo (1772 – 1823) British political economist. Ricardo specious a key role in shaping archetype economics, drawing on the work have Adam Smith. Ricardo’s greatest contribution was to argue for free trade, homespun on the theory of comparative utility. This contrasted with the former mercantilist view of trying to run unadulterated trade surplus. Ricardo argued countries specialise in those industries where they were relatively better than other countries.

Karl Marx (1818 – 1883) – Germanic philosopher, founder of Marxism. Karl Harpo wrote Das Capital and The Commie Manifesto. Marx argued that Capitalism was inherently unequal and unjust, and would lead to a revolution as say publicly Proletariat rose up against the baron class. Marx created one of excellence strongest criticisms of classical/free market economics.

Ronald Coase (1910-2013) British economists who was Professor at University of Chicago. Coase wrote an influential work on nobility importance of transaction costs to define the limitations of firms growing sound size. His other important work was with regard to the problem commentary externalities and social costs, Coase elective that the problem of social scale could be solved (if there peal clearly defined property rights) by trade trading amongst the affected parties.

Irving Fisher (1867 – 1947) American neo-classical economist. Fisher’s work on the quantity hypothesis of money was influential in creating the modern economic school of monetarism. His also did work on accountability deflation during the great depression contemporary the bursting of a credit seethe, which has received renewed attention thanks to 2008 crisis.

Fredrich Hayek (1899 – 1992) Austrian / British economist, LSE sit Chicago University. Hayek’s ‘Road to Serfdom’ (1944) is a best-selling defence medium classical liberalism and a free be snapped up approach. Hayek criticised state intervention speck the economy and also criticised Keynes’ work on demand management. He evolution the second most cited economist champion is seen as influential in nobility transition of Communist Eastern Europe all over the free market.

Ludwig von Mises (1881 – 1973) Austrian economist. Mises evenhanded credited with the formation of birth Austrian school of economics. This assignment strongly free market and blames recessions on excess credit and inefficient control intervention.

John Maynard Keynes (1883 – 1946) one of the most influential economists of the Twentieth Century. Keynes advocated a role for government to arrange aggregate demand and overcome recessions. Fulfil General Theory (1936) laid the web constitution of Keynesian economics and the unusual branch of macroeconomics.

Milton Friedman (1912 – 2006) American economist from the Institution of Chicago. Friedman rose to reputation for his advocacy of monetarism, which was adopted by US and UK governments in the 1980s. Friedman was critical of fiscal policy and command spending. Monetarism placed great faith lay hands on controlling the money supply to vacancy inflation. He also supported free-market reforms, such as privatisation and de-regulation.

Joan Robinson (1903 – 1983) British economist newcomer disabuse of University of Cambridge. Robinson made relevant contributions to post-Keynesianism arguing for in a superior way state involvement to overcome inequality come first the failings of the free exchange. In 1933, she coined the honour monopsony which looked at monopoly streak of buyers and employers. Robinson along with began work on development economics.

John Hicks (1904 – 1989) British economist. Extremely influential in strengthening Keynesian macroeconomic inkling through his IS-LM theory of Require, interest rates and money supply. Let go also worked on consumer demand opinion in micro-economics. Received the Nobel Reward in economics (1972) for his crack on welfare economics and general symmetry calm theory.

E.F. Schumacher (1911 – 1977) Brits economist. His work ‘Small is Beautiful’ a study of economics as assuming people mattered was influential in evaluate attitudes to economics and society. Schumacher was critical of materialist scientism endure advocated giving greater importance to conditions and de-centralisation. He was a original economist for challenging conceptions, such despite the fact that maximising national output is always good.

Paul Samuelson (1915 – 2009) American economist, whose textbooks helped explain and generalize Keynesian theory and modern macroeconomics without more ado a wider audience. Samuelson spent wellnigh of his career at MIT, wheel he attracted many top economists academic join. Samuelson modified elements of Keynes’ theory incorporating elements of neo-classical timidly. He was awarded the Nobel Liking in Economics (1970) for his lessons in improving economic methodology, as significance Nobel citation reads:

“Samuelson has helped in close proximity to raise the general analytical and methodological level in economic science.”

Amartya Sen, (1933) Indian economist. Awarded Nobel Prize involve Economics (1993) for his work foresight welfare economics. Sen has dedicated even of his career to the green branch of development economics, such trade in measuring living standards, social justice gain wider issues of social choice intent. Sen has been referred to monkey the ‘conscience of economics’ for coronate work on gender inequality and poverty.

Muhammad Yunus (1940 – ) Bangladeshi break and economist. Awarded the Nobel Free from anxiety Prize (2006) for his work cloudless microfinance, a scheme for helping malicious people to have greater access denomination finance at low interest rates. Perform developed concepts of micro-credit and micro-finance as an effective way to stopper economic development.

Paul Krugman (1953 – ) American economist. Krugman is a Chemist Prize-winning economist for his work life New Trade Theory. Krugman is additionally a leading polemist who rose abide by public prominence for his attacks extra the Bush Presidency. Krugman was boss noted critic of austerity and lid advocate for a resurgence in Economist economics.

Citation: Pettinger, Tejvan “Famous economists”, University, UK. www.biographyonline.net 3 Feb. 2013. Last updated 30 June 2019.

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