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The Influence of Karl Marx on Economics

Although there are many people who would disagree with the work of Karl Marx there are few who would doubt his contributions to economics. For much of the twentieth century one third of the world lived in economies that were strongly influenced by his ideas. Although the last few decades have seen the fall of many of these communist countries the ideas of Marx are still important today.

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The Influence of Adam Smith on Economics

Adam Smith died over two hundred years ago but he is still considered one of the most important economists of all time. This Scottish philosopher wrote a book called the ‘Wealth of Nations’ and his writings still have an influence today. He is often referred to as the founding father of economics.

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