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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.

Milton Friedmen

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