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History of Economic Theories

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J.S.Mill (1806 –1873)
John Stuart Mill was a British philosopher andcivil servant. An influential contributor to social theory, political theory, andpolitical economy, his conception of liberty justified the freedom of the individual in opposition to unlimited state control.[2] He was a proponent of utilitarianism, an ethical theory developed by Jeremy Bentham, although his conception of it was very different from Bentham's. Hoping to remedy the problems found in aninductive approach to science, such as confirmation bias, he clearly set forth the premises of falsification as the key component in the scientific method.[3] Mill was also a Member of Parliament and an important figure in liberal political philosophy.
Alfred Marshall (1842 - 1924)
Alfred Marshall was an Englishman and one of the most influential economists of his time. His book, Principles of Economics (1890), was the dominant economic textbook in England for many years. It brings the ideas of supply and demand, marginal utility and costs of production into a coherent whole. He is known as one of the founders of neoclassical economics.
John Maynard Keynes (1883 – 1946)
John Maynard Keynes, 1st Baron Keynes of Tilton was a British economist whose ideas, known as Keynesian economics, had a major impact on modern economic and political theory and on many governments' fiscal policies.
Milton Friedman (1912 – 2006)
Milton Friedman was an American economist and statistician at the University of Chicago, and recipient of the Nobel Memorial Prize in Economic Sciences. Among scholars, he is best known for his theoretical and empirical research, especially consumption analysis, monetary history and theory, and for his demonstration of the complexity of stabilization policy.
Joseph Shumpeter (1883 –1950)
Joseph Alois Schumpeter was an Austrian-American economist and political scientist. He popularized

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