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Father of Economics
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Father of Economics
Adam Smith
Who is the father of economics?
He was a Scotish economist, philosipher, and auther in the 18th century. He wrote A book called "The Wealth of Nations". It describes the industrial capatilistic system. He called his ideas the Invisible hand. They would create automatic pricing and distrobution in the economy.
Adam Smith
Karl Marx
He was a revolutionary, sociologist, historian, and economist. He pubished A book called "The Communist Manifesto. Later Russia Adopted his ideas.
He does not support the same Ideas as Adam Smith. Adam Smith supports capitalism. Karl Marx supports communism
Alfred Marshell
He was the domminent in British economics. He mainly worked in microeconomics. In the his book "Principles of Economics" he shows suply and demand.
Alfred Marshell
John Kenyes
He was an economist in england and the father of modern macroeconomics. He theorised about deficet spending. Derficit spending is when a government exceeds it's spending revenue.
John Kenyes
Milton Friedmen
He was an economist in the US. He supported a monetarism polecy. He was the most famous alummus at
the Chicago School of Economics.