Famous economists in human history

2024 Author: Henry Conors | [email protected]. Last modified: 2024-02-12 02:40

The contribution of the best scientists remains relevant even several centuries after their death. This is not only true of outstanding physicists or mathematicians, well-known economists also deserve lasting fame. Here are some of the most talented scientists and their accomplishments.

Adam Smith

Perhaps even those who are far from financial matters know this name. The famous economist Adam Smith was born in 1723 in Scotland. He became the founder of classical political economy, and his main works are The Theory of Moral Sentiments and An Inquiry into the Nature and Causes of the We alth of Nations. Adam began his journey at a simple local school, from childhood he loved to read and actively showed himself in the classroom. At the age of 14, the young man went to study philosophy in Glasgow, and in 1746 he already graduated from Oxford College, after which he began to lecture on literature, law and economics. In 1751 Smith became a professor of logic, and the materials of his lectures became the basis of a future book on feelings. Many famous economists of the time taught, but soon Adam Smith quit his job to travel abroad asaccompanying with the son of the Duke of Buccleuch. During the journey, he wrote his main work, "An Inquiry into the Nature and Causes of the We alth of Nations", which brought him worldwide fame.

Henry Adams

This scientist was born in 1851 in the American city of Davenport. Henry became interested in finance in his youth while studying at the university, and later began to teach economics. In addition, he served on the commission that oversees interstate commerce. Like many other famous economists, Adams has seriously changed the world's approach to finance. He studied the relationship between the public and the private sector, which allowed the state to change the principles of economic regulation. His theories did not coincide with the views of Adam Smith. Henry Adams believed that society and the state should determine economic policy jointly. Among other things, Henry also influenced the development of railroads in America, often acting as an expert in this area.

Karl Marx

This native of Prussia determined the course of history, his considerations inspired not only famous economists in Russia and other countries, but also political leaders, such as Lenin. Karl Marx was born in 1818 in Trier, where he received a gymnasium education, then studied in Bonn and Berlin. After university, he became interested in revolutionary ideas. Marx worked for a newspaper for several years and then turned to political economy. After moving to Paris, he met Engels, it greatly influenced him. In 1864 he founded an internationallabor association, and soon published Capital, the most important of his works. The most famous economists - Smith, Ricardo became an inspiration for Marx, who, based on their theories, explored the relationship between value and labor, money and goods. According to his beliefs, the country is ruled by the politically dominant class. Such views became the basis of the Marxist movement.

John Kenneth Galbraith

Many famous economists have greatly influenced the course of history, but only this American scientist was a teacher of US President John F. Kennedy. Galbraith was born into a simple family with four children, went to school and an agricultural college, and in 1931 became a bachelor of science in agricultural economics. In 1934 he began teaching at Harvard. His views were influenced by the work of another famous economist - Keynes. In addition, Galbraith worked for the government, regulating prices and wages. From 1943 he worked for Fortune magazine, and in 1949 he returned to Harvard. During World War II, he was on a team of economists who kept inflation under control - the effects of the recent Great Depression were still extremely significant for the United States of America. When Kennedy became president in 1960, Galbraith was named ambassador to India. Over the years of his life, he wrote many books, among the most famous are such works as "Affluent Society", "The New Industrial State", and "Economy and Social Purposes". Until his last days, Galbraith continuedto actively work, publishing scientific articles, remaining an influential specialist and government adviser, as well as maintaining teaching activities, and in 2006 he died of natural causes.