Ten Great Economists
The father of modern economics, he saw the market system acting as an
"invisible hand" which leads people to unintentionally promote
society's interests while pursuing their own.
His theory that landlords enriched themselves at the expense of society
led him to campaign tirelessly in Parliament and in print for free trade.
A Classical economist, he startled early 19th century society with his
pessimistic prediction that population growth would exceed food supply,
condemning mankind to misery.
The last of the great economists of the Classical
School, he denied the doctrine that society could not alter the existing
distribution of income.
Intellectual father of modern day Marxist
economics, he predicted that capitalism would be ultimately destroyed
by its own inherent contradictions.
He revolutionized economics with his rigorous mathematical formulation
of the mechanics of the price system.
He demonstrated the tremendous theoretical power of demand and supply
curves, and bequeathed to economics the critical distinction between the
short run and the long run.
United States, 1857-1929
One of the leading Institutionalists,
he is best remembered for his theory of "conspicuous consumption"
which parodied the ostentation of the Gilded Age.
His ideas on the causes of unemployment revolutionalized macroeconomic
theory and profoundly altered government's involvement in the economy.
United States, 1867-1947
His work on money and prices, with its sophisticated use of statistical
techniques, provided the basis for recent theoretical work in economics.