Did you know that Adam Smith, known as the Father of Economics, published his most famous work, The Wealth of Nations, in 1776? This groundbreaking book laid the foundation for modern economic theories and promoted the idea of free-market capitalism. Another influential economist was John Maynard Keynes, whose theories on government intervention in the economy transformed economic policy during the Great Depression. Keynesian economics advocated for government spending to stimulate demand and stabilize the economy. Milton Friedman, a major figure in the Chicago School of Economics, was a proponent of monetarism and believed in the role of the Federal Reserve in controlling the money supply to promote stable economic growth. Amartya Sen, an Indian economist and Nobel laureate, is renowned for his work on welfare economics and development economics. He emphasized the importance of individual freedoms and capabilities in measuring economic development. Elinor Ostrom, the first woman to win the Nobel Prize in Economics, was recognized for her research on economic governance and the management of common pool resources. Her work challenged the conventional wisdom that only government or private ownership could effectively manage resources. These economists and many others have made significant contributions to the field of economics, shaping our understanding of how economies function and providing valuable insights into global economic challenges.