John Maynard Keynes was a British economist who wrote extensively during the 1920s and 1930s. His work is still considered important today and has since become referred to as Keynesian economics. Up until the 1970s his ideas had a huge impact on government economic intervention in Europe. The economic collapse of 2008 saw Keynes’ ideas once again enter the spotlight, but there has also been a public backlash against the interventionist policies he favored.
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.
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.