Did you know that Adam Smith, often considered the father of modern economics, published The Wealth of Nations in 1776? This seminal work laid the foundation for classical economics and advocated for free-market capitalism. Another famous economist is John Maynard Keynes, whose theories on government intervention in the economy during times of recession greatly influenced economic policy during the 20th century. Keynesian economics promotes the idea that government spending can stimulate economic growth and stabilize the economy. Milton Friedman, a proponent of monetarism, believed that the government should control the money supply to manage inflation and unemployment. He won the Nobel Prize in Economics in 1976 for his work on monetary policy and the consumption function. Amartya Sen, an Indian economist and philosopher, won the Nobel Prize in Economics in 1998 for his contributions to welfare economics and social choice theory. He is known for his work on poverty, famine, and human development. These economists have had a profound impact on economic thought and policy, shaping the way we understand and navigate the complexities of the modern global economy. Their contributions continue to influence the field of economics today.