1. Topic: What Contribution Did Adam Smith And John M. Keynes Make To The Study Of Economics?
Adam Smith was the founder of economics, as we know it today. ... Smith laid the intellectual framework that explained the free market (which still holds true today) and laissez-faire. ... Smith's analysis is not confined to showing the interrelation between the different elements of a continually maintained system. ... Around the world today, government monopolies and other bad practices are under major assault from Adam Smith's ideas. ... John M. ...
These economists are Adam Smith, Karl Marx, and John Maynard Keynes. ... Adam Smith's theory of economics established capitalism as the only moral economic system. ... Smith is always a proponent of justice. Never does Smith allow for any sort of theft or breach of respect. ... John Maynard Keynes is best known for his classic book The General Theory of Employment, Interest, and Money that was published in 1936. ...
Macroeconomic theories were developed by John Maynard Keynes. ... MPC = D C DY Adam Smith's theory of economic growth had two parts, increasing division of labor increases the productivity of labor. Smith described how workers in a modern economy do jobs that are different and that enhance the productivity of one another. ... Smith saw this as the main reason for rising productivity and for high standards of living, or, in his words, "that universal opulence which extends itself to the lowest ranks of the people... This was the title of Smith's key point in his theory of ...