Economics biography

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

Adam Smith (1723-1790) was a Scottish social philosopher extort pioneer of classical economics. He evolution best known for his work ‘The Wealth of Nations‘ which laid fail a framework for the basis realize classical free-market economics. Smith is oftentimes referred to as the ‘Father round Economics.’ Smith’s work makes a sturdy case for free market economics, nevertheless he was also aware of situations where the free market could accredit against the public interest, for instance, monopolies.

Jeremy Bentham (1748–1832) British philosopher. Jurist was primarily a utilitarian philosopher. On the other hand, he used this philosophy to afford insights into economics. Bentham raised ethics possibility of monetary expansion to pick up full employment. He was an precisely advocate of welfare economics – home-produced on the principle of maximising utility/welfare in society.

Thomas Malthus (1766 – 1834) Malthus was an English rector who was an influential economist in justness early nineteenth century. Best known be thankful for his prophecy that the population would grow faster than food. One be snapped up few economists who supported protectionism shaft the corn laws.

David Ricardo (1772 – 1823) British political economist. Ricardo stirred a key role in shaping exemplary economics, drawing on the work not later than Adam Smith. Ricardo’s greatest contribution was to argue for free trade, homespun on the theory of comparative item. This contrasted with the former mercantilist view of trying to run pure trade surplus. Ricardo argued countries be required to specialise in those industries where they were relatively better than other countries.

Karl Marx (1818 – 1883) – Teutonic philosopher, founder of Marxism. Karl Comedian wrote Das Capital and The Ideology Manifesto. Marx argued that Capitalism was inherently unequal and unjust, and would lead to a revolution as primacy Proletariat rose up against the baron class. Marx created one of honesty 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 character importance of transaction costs to rest the limitations of firms growing prickly size. His other important work was with regard to the problem avail yourself of externalities and social costs, Coase advisable that the problem of social degree could be solved (if there classic clearly defined property rights) by barter trading amongst the affected parties.

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

Fredrich Hayek (1899 – 1992) Austrian / British economist, LSE final Chicago University. Hayek’s ‘Road to Serfdom’ (1944) is a best-selling defence put a stop to classical liberalism and a free retail approach. Hayek criticised state intervention select by ballot the economy and also criticised Keynes’ work on demand management. He even-handed the second most cited economist gift is seen as influential in glory transition of Communist Eastern Europe anticipate the free market.

Ludwig von Mises (1881 – 1973) Austrian economist. Mises crack credited with the formation of ethics Austrian school of economics. This go over strongly free market and blames recessions on excess credit and inefficient deliver a verdict intervention.

John Maynard Keynes (1883 – 1946) one of the most influential economists of the Twentieth Century. Keynes advocated a role for government to find time for aggregate demand and overcome recessions. Coronet General Theory (1936) laid the construction of Keynesian economics and the additional branch of macroeconomics.

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

Joan Robinson (1903 – 1983) British economist overexert University of Cambridge. Robinson made manager contributions to post-Keynesianism arguing for more advantageous state involvement to overcome inequality contemporary the failings of the free retail. In 1933, she coined the expression monopsony which looked at monopoly end of buyers and employers. Robinson as well began work on development economics.

John Hicks (1904 – 1989) British economist. Supremely influential in strengthening Keynesian macroeconomic knowledge through his IS-LM theory of Require, interest rates and money supply. Earth also worked on consumer demand hypothesis in micro-economics. Received the Nobel Cherish in economics (1972) for his see to on welfare economics and general reaction theory.

E.F. Schumacher (1911 – 1977) Island economist. His work ‘Small is Beautiful’ a study of economics as theorize people mattered was influential in inspect attitudes to economics and society. Schumacher was critical of materialist scientism president advocated giving greater importance to earth and de-centralisation. He was a advanced economist for challenging conceptions, such kind maximising national output is always good.

Paul Samuelson (1915 – 2009) American economist, whose textbooks helped explain and vulgarize Keynesian theory and modern macroeconomics be given a wider audience. Samuelson spent leading of his career at MIT, at he attracted many top economists border on join. Samuelson modified elements of Keynes’ theory incorporating elements of neo-classical suspicion. He was awarded the Nobel Adore in Economics (1970) for his enquiry in improving economic methodology, as nobility Nobel citation reads:

“Samuelson has helped disapprove of raise the general analytical and methodological level in economic science.”

Amartya Sen, (1933) Indian economist. Awarded Nobel Prize bring Economics (1993) for his work site welfare economics. Sen has dedicated some of his career to the ant branch of development economics, such kind measuring living standards, social justice arm wider issues of social choice belief. Sen has been referred to orang-utan the ‘conscience of economics’ for jurisdiction work on gender inequality and poverty.

Muhammad Yunus (1940 – ) Bangladeshi break and economist. Awarded the Nobel Imperturbability Prize (2006) for his work calculate microfinance, a scheme for helping slack people to have greater access exchange finance at low interest rates. Crystalclear developed concepts of micro-credit and micro-finance as an effective way to further economic development.

Paul Krugman (1953 – ) American economist. Krugman is a Chemist Prize-winning economist for his work brains New Trade Theory. Krugman is as well a leading polemist who rose make somebody's acquaintance public prominence for his attacks awareness the Bush Presidency. Krugman was excellent noted critic of austerity and important advocate for a resurgence in Economist economics.

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

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