CAS EC 102 Study Guide - Midterm Guide: Jared Diamond, Michael Kremer, Simon Kuznets

• School: Boston University
• Department: Economics
• Course: CAS EC 102
• Professor: Jay Zagorsky

Document Summary

Adam smith: (1723-1790) was a scottish social philosopher and pioneer of classical economics. He his best known for his work the wealth of nations which laid down a framework for the basis of classical free market economics. Smith is often referred to as the father of economics. ". Smith"s work makes a strong case for free market economics, but he was also aware of situations where the free market could be against the public interest, for example monopolies. Paul samuelson: (1915 2009) american economist, whose textbooks helped explain and popularise keynesian theory and modern macro-economics to a wider audience. Samuelson spent most of his career at mit, where he attracted many top economists to join. Samuelson modified elements of keynes" theory incorporating elements of neo-classical theory. John maynard keynes: (1883 1946) one of the most influential economists of the twentieth. Keynes advocated a role for government to manage aggregate demand and overcome recessions.