10 Most Famous Economists of All Time and Others Whove Made Their Mark

10 Most Famous Economists of All Time and Others Whove Made Their Mark The Most Influential Economists You Should Know About ChaptersFamous British EconomistsUS Economists ListsTop Economists InternationallyResearch Famous Economists That Most Appeal to YouAlthough when you think about the great minds of our age, we often turn our thoughts to thinkers, leaders or even politicians. However, when it comes to shaping our understanding of the world today, and why we act the way we do, we may be better served by looking to the great economists of our time for answers.Economics sneaks into almost every part of our daily lives, as we are often directly or indirectly influenced by things such as:the state of our local economythe strength of the global economy; andlocal and international economic policyAs a result, it's worth investing some time to find out more about the thinkers that shaped our understanding of economics as we know it today. What's more, it's often the case that such figures are part of a school or university curriculum, so the more familiar you can be with their ideas, the better position you'll be in to perform well in your studies.With that in mind, we outline below the 10 most influential economists of all time, and why you should know about them.comparative advantage; andthe labour theory of value.His most famous work is The Principles of Political Economy and Taxation, which was released in 1817.John Maynard Keynes (1883 â€" 1946)Keynesian economics had a huge role to play in the field of macroeconomics.Not only are Keynes' theories still taught in schools today, but they have spawned their own offshoots, with economists such as the late Michal Kalecki having acted as proponents for the post-Keynesian school of economic thought.In short, Keynes argued against laissez-faire, believing instead that governments should intervene in order to:stabilise the booms and busts of economic activity;decrease unemployment; andprevent an economic recession.Equally revolutionary for his time, Keynes suggested that demand, and not supply, was the most important force driving the econo my, which went against common belief at the time.Keynes is one of the most influential economists ever to have lived. (Source: CC BY-SA 4.0, Edwardx, Wikimedia Commons)Amelia Fletcher (1966 - )If Keynes was revolutionary in the world of economics, Dame Amelia Fletcher has completely obfuscated the lines that define traditional economists.Not just because she is one of the rare females that have made a name for themselves in the field of economics, either!She earned her Doctorate in Economics from Nuffield College at the tender age of 27. Eight years later, she was appointed to the Office of Fair Trading in the position of Chief Economist.For those not in the know, that office is our country’s economic regulator.In October 2016, she was appointed to direct the Competition and Markets Authority, a government entity that ensures strong business competition (and works to prevent unfair business tactics).For all of her noteworthy accomplishments, far from the stereotypical image of an economist is Dame Amelia...You might take a break from your own economics studies to catch her in concert, singing and playing her guitar with Canterary Wires.Arthur Cecil Pigou (1877 â€" 1959)Everyone knows all about John Keynes but many overlook his patron when contemplating the world’s most influential economists.Arthur Pigou was educated at Harrow School and, later, at King’s College as a history scholar where he won several awards, among them the Chancellor’s Gold Medal, for a poem he wrote.He came to economics in a roundabout way: through philosophical and ethical studies. However, once introduced to the subject, he found himself adept at the subject, especially with the legendary Alfred Marshall as his teacher.He later succeeded Marshall, having been elected to the post of Professor of Political Economy. Soon after earning that post, he funded Keynes’ work on probability theory.The two men would later have very different perspectives on their relationship, with Pigou averring that Keynes’ theory had substantial merit. That latter’s views over his benefactor, however, were mainly disparaging.Pigou’s most enduring legacy in the field of economics remains the concept of externality, essential to modern welfare economics and environmental economics.If you are enroled in the School of Economics at Cambridge, you should give thanks to Arthur C. Pigou.Starting in 1901, as he lectured in Economics there, he formulated a course syllabus that every Economics student followed for the next 30 years. It influences economics teaching at that school still today!W. Arthur Lewis (1915 â€" 1991)Mr Lewis earned his PhD at the London School of Economics under the tutelage of Sir Arnold Plant, electing to remain on staff for eight years after earning his doctorate.He then went on to lecture at the University of Manchester, where he formulated some of his most influential economic ideas about wages and capital in developing countries.While at Manchester, he pub lished a paper which introduced the Lewis Model â€" also known as the dual sector model.He got plenty of experience in analysing the movement of money in Ghana, which had just won its independence (in 1957). As their first appointed economic advisor, he was instrumental in formulating that new country’s first 5-year economic plan.His research into development economics earned him the Nobel Memorial Prize in 1979, which he shared with Theodore Schultz.Beatrice Webb (1858 â€" 1943)Martha Beatrice Webb was remarkable in that she was never formally educated but still had strong ideas about education in general and the impact of cooperation on a society.A dedicated socialist, she refined her ideas whilst working first as a rent collector â€" a position she took over from her older sister, and in helping her cousin Charles Booth survey the slums of London.His study of the poor in the capital city is reflected in the massive oeuvre Life and Labour of the People in London, a shocking repo rt which eventually led to government initiatives against poverty.Meanwhile, Beatrice, having never spent time in a classroom herself, used part of an endowment she and her husband received to found the London School of Economics and Political Science.If you think it unusual that she would elect such a subject to dedicate a school to, consider how much time, energy and effort she put into improving people’s lives.She made numerous contributions to the cooperative movement economic theory, even publishing several theses on the topic.She and her husband were firm advocates of the central planning concept; it was she who coined the term collective bargaining to describe disparate entities meeting in the middle and agreeing on aspects of labour such as wages and working conditions.US Economists ListsAlthough there have been many prominent British economists over the years, there have been equally great economic minds within the U.S. as well as overseas.Irving Fisher was one of the mos t famous economists of his generation. (Source: Library of Congress, Prints Photographs Division LC-USZ62-101512, Wikimedia Commons)Irving Fisher (1867 â€" 1947)Fisher was one of the most prominent economists of the early 20th century, and arguably was one of the first celebrity economists.Fisher greatly contributed to the foundations of monetarism and is perhaps best known for his two works The Debt-Deflation Theory of Great Depressions and The Theory of Interest.Although his contributions to the field of economics are significant, he famously suffered a setback in 1929, when he declared that “stock prices have reached what looks like a permanently high plateau” when in fact, days later, Wall Street crashed, marking the beginning of the Great Depression.Milton Friedman (1912 â€" 2006)Often painted as a counter figure to Keynes, Milton Friedman was the figure behind the Chicago School of Economics. Following in Adam Smith’s footsteps, Friedman argued in favour of the free mar kets  and is best known for his promotion of free-market capitalism.Contrary to Keynesian theory, Friedman argued for:less government intervention;the steady increase of the supply of money within growing economies; andfloating exchange rates, among other itemsHis work was widely recognised and he is often credited as one of the major economic thinkers of the 20th century alongside Keynes. In 1976, Friedman received the Nobel Prize in Economics.Joseph Stiglitz (1943-)A professor at Columbia University, Joseph Stiglitz is part of the new Keynesian economic school. His contributions to the field of economics are significant, having acted as the Chief Economist and Senior Vice President at the World Bank, and also serving on the Council of Economic Advisers during Bill Clinton’s presidency.A recipient of the John Bates Clark Medal in 1979, the Nobel Prize in Economics in 2001, and a shared recipient of the Nobel Peace Prize in 2007, Stiglitz is widely-recognised for his contributions to macroeconomic theory as well as education and has published a wide range of books worldwide.He is known for his criticisms of laissez-faire economists, as well as institutions such as the International Monetary Fund.Alan Greenspan (1926 - )One target of Mr Stiglitz's ire exactly because of his laissez-faire attitude toward economics, Mr Greenspan is infamous for the series of economic earthquakes that rocked America and the world during his tenure as chairman of the Federal Reserve â€" America’s central bank.He is another influential economist who did not always have his feet firmly planted on that career path; initially, he studied music at Julliard, playing the sax and the clarinet.Maybe economics was in his blood... his father was a market analyst and stockbroker. Or perhaps it was his friendship with John Kemeny that spurred his love of numbers.Whatever the reason, Greenspan enroled in the Stern School of Business where he soon earned his Masters in Economics, later transf erring to New York University to earn his doctorate.A long-time member of industry think-tank The Conference Board, he was a natural choice for appointment to the Federal Reserve.Under his tenure, several economic crises shook the US (and the globe) in rapid succession.Two months after taking office, Black Monday, the global stock market crash (1987) started in Hong Kong and rippled across the world.The Dot.Com bubble (1995-2000) is largely thought to have been caused by his consistent raising of interest rates.In 2001, various corporate scandals (and the 9/11 event) caused the Fed to lower interest rates to 1%, permitting outrageous loans and speculation.The sub-prime mortgage crisis is often attributed to Greenspan’s policies while chairman of the Fed.The global economic downturn (2008) is attributed to his laissez-faire style of economics.After leaving the Fed in 2006, Mr Greenspan accepted an honorary position at the Exchequer.Elinor Ostrom (1933 â€" 2012)A political economist , Ms Ostrom was discouraged from attending college by her mother, who could see no point in her daughter’s further education.She nevertheless went on to study political science at UCLA, finishing her Bachelor’s in three years thanks to her taking extra classes during summer sessions.She went on to earn her PhD but, as was common at the time, could not find work to pay for her schooling because most employers assumed she wanted secretarial work or a position as a teacher.Limited by gender policies in both her education and career, she was declined for a study programme in Economics and opted to work towards a doctorate in political science.A resource arrangement that works in practice also works in theory â€" Lee Ann Fennel, describing Ostrom's LawThis adage was born of her work in managing natural resources to prevent ecosystem collapse.It had been previously assumed that resources such as water and land, needed by everyone in the community, would soon become depleted through ho arding, mismanagement or overuse.However, Ms Ostrom’s research revealed that community members work to preserve and renew their resources, thus disproving long-held ideas of how a collective would manage and sustain their ecology.In 2009, she was awarded the Nobel Memorial Prize for her work in economic governance. To this day, she is the only woman to have won Nobel recognition in the field of economics.Top Economists InternationallyThe greatest economic minds of our time have emerged from all corners of the globe, and we outline below some of the most important economic thinkers below.Karl Marx is one of the most famous economists ever to have lived. (Source: Public Domain,John Jabez Edwin Mayal, Wikimedia Commons)Karl Marx (1818 â€" 1883)Although Marx is better known today as a revolutionary who extolled the benefits of communism, Marx has, for better or worse, had an undeniable impact on the economic thought and principles followed by many countries across the world today.Born in Trier, Germany, Marx was considered as much a philosopher as an economist. He is most famous for The Communist Manifesto, which he wrote alongside Friedrich Engels. In the work, Marx and Engels explain the nature of Marxism and their understanding of how a capitalist system came into being. Ultimately, they argued that a capitalist society was unsustainable and that eventually it would be replaced by a socialist society.Friedrich Hayek (1899 â€" 1992)An Austrian-born economist, Friedrich August von Hayek was a prominent economist during the Great Depression, and perhaps most well-known for his opposing views to Keynes. This clash of views is often cited in works about Keynes and Hayek and this clash has been brought to the popular imagination. For example,  there are even YouTube rap battles outlining the two economists’ differing positions.A believer in the power of the free markets, Hayek argued that prices in an economy should be free to change, as this communicates how wel l an economy is performing.Hayek, like many of the names on this list, was also highly recognised in academic circles. During his life he received:the Nobel Prize in Economics in 1974;the Companion of Honour in 1984; andthe Presidential Medal of Freedom in 1991.Amartya Sen (1933-)Amartya Sen is an Indian economist, who has worked internationally, highlighting ethical considerations behind his  economic thinking. Sen has contributed greatly to welfare economics, arguing for instance that famines arise due to a lack of income, not food. Sen was awarded the Nobel Prize in Economics in 1998.My London Economics tutor told me all about this most venerable economist!Daniel Kahneman (1934-)Kahneman, an Israeli-American phycologist, has been notable in his work within the relatively new field of behavioural economics.Although former schools of economic thought, including Keynesianism and monetarism, focused more on the science or mathematics behind economic trends, behavioural economics is m uch more concerned with how humans behave irrationally at times, and how this impacts our economic systems. He was awarded the Nobel Prize in Economics in 2002.Ernst Fehr (1956 - )Nominated the most influential economist in Germany, Austria and Switzerland (2016), this behavioural economist, along with his brother, is making substantial strides in the relatively new field of neuroeconomics.Besides teaching microeconomics and experimental economic research at the University of Zurich, his research into human cooperation and sociality has garnered growing interest in academic circles â€" both anthropologic and economic!He has won numerous awards and prizes for his work and has been granted honorary membership in economic societies worldwide.Hernando de Soto Polar (1941 - )Known for his work in the informal economy, Mr de Soto was instrumental in bringing about Peruvian reforms in land rights and entrepreneurship.He contends that any nation not informed of all of its economic activity cannot have a strong market economy.Specifically, he was referring to the microentrepreneurs who have no deed of title to their land, house or enterprise, making it difficult for them to obtain credit or seek legal redress should their business suffer from an outside entity.Such conditions result in parallel economies: one that is taxed and regulated while the other goes unrecorded.The ‘informal’ economy is largely driven by unresponsive, unfair and cumbersome bureaucracy; the very conditions that Mr. de Soto’s efforts continuously work to reform â€" not just in his native land but globally.Most recently, he attended a summit hosted by Sir Richard Branson.The topic was blockchain: how it could replace traditional methods of recordkeeping, insofar as recording (and thus making official) the land rights of indigenous peoples all over the world.Already the project is coming to fruition: Georgia is using blockchain technology to title land to families who have worked it for genera tions.It is generally indigenous people who have work their land for generations who suffer under the informal economy Source: Pixabay Credit: Free-PhotosResearch Famous Economists That Most Appeal to YouAlthough prevailing economic theories understandably move with the times, we still owe much to economists such as:Keynes;Milton;Hayek; andAdam Smith.Although their views differ as to whether economies should be laissez-faire  or should involve government intervention, these thinkers have all shaped the world of economics and economic theory that we have today. As a result, there's so much that their theories and ideas can teach us about our local economy, as well as the global economy more broadly.Due to their importance, it’s unsurprising that you learn about many, if not all, of the above figures during your economics studies at school and university. As such, taking some time outside of class to study these economists' theories in more detail is a great way to stay ahead in you r studies, and it will give you a lot of reference material to draw from when you're sitting an exam question or have to complete an essay.However, if you’re ever looking to learn more about a particular economic thinker or school of economic thought, you can always hire an economics tutor to help teach you more about these great minds, or choose to learn economics online.Superprof has a range of tutors to provide you with A Level Economics help. They are very familiar with the above economists and they would be happy to help you improve in your studies.Learn about the financial crisis of 2008 here.Discover more about economic modelling here.

Why Learn Japanese In Order to Learn About the Country

Why Learn Japanese In Order to Learn About the Country Taking Japanese Classes to Learn About the Country ChaptersYour Japanese Lessons Will Teach You About One of the Most Interesting Cultures in the WorldJapanese Courses Can Show You Manga and Japanese CinemaPlaying Hundreds of Video GamesUnderstanding Religion and Japanese SpiritualityOther Reasons Why You Should Learn JapaneseDid you know that the Japanese writing system can trace its origins all the way back to Chinese Buddhist monks in the 4th century?Learning a foreign language is never easy.If you find that learning Spanish, French, or German is difficult, studying a complicated syntactic language such as Japanese is even more challenging!However, you should remember that the Japanese language is not just a language;  it is a passport to all of Japanese culture! There are subsequently many reasons to learn Japanese.Since your childhood, Japanese culture has been all around you, probably without you even really noticing it.Japan's international influence has seeped into your sub-conscience via cartoons, cinema, sports, and gastron omy, but to name a few.You might already be aware of the influence that Japanese culture has on our lives, and because of this you have decided to enrol on to a Japanese language course:in high school,via private lessons at home,in a language school,or in university, with a BA in Japanese Language and Literature.Or maybe you like Japan because it's part of the Far East, an exotic destination which makes you feel like you are in another world!Learning the Japanese language allows you to not only get closer to one of the world's most unique cultures, it could also help you to teach Japanese in your country, or even work and live in the land of the rising sun.Superprof will now list the aspects of Japanese culture you will better understand by becoming a Japanese speaker.With all these reasons in mind, how could you not want to learn Japanese?

English Modal Verbs Video 4 Can

English Modal Verbs Video 4 Can Ok, were on to the fourth video in our series on English modal verbs. In this video we explain the modal verb can. You will learn about the positive and negative forms of this modal verb, and its various meanings.Watch the video below, then see if you can do the exercises. Contact us if you have any questions! Four of the five sentences below contain errors. Try to correct them.Can I to go to the movie with you?He cant not sleep at night.Do you can meet me on Friday?Can I borrow your toothbrush?Yesterday I cant find my keys.English Modal Verbs Video 1English Modal Verbs Video 2English Modal Verbs Video 3

English Convesation Classes Analogue v. Digital Cameras

English Convesation Classes Analogue v. Digital Cameras One of my favourite pastimes is Lomography or informal photography. My collection of (film-based) analog cameras  includes everything from a Holga to an Action Sampler to a Fisheye, which takes wonderful circular shots.Camera with fisheye lense.These cameras mark an incredible evolution in form from the earliest manifestation of the camera as an 11th century dark box or camera obscura. Let’s not forget today’s digital cameras which have taken that evolution even further. Which do you prefer? Its a great topic for an English conversation class.Let’s talk about the cameras you use. Below youll find great English vocabulary and phrases for talking about photography, as well as conversation questions.What kind of camera do you prefer?Digital,Analog,Polaroid,Single-use,Professional,Why do you prefer digital cameras?Shots are instantaneous.I can  upload photographs easily onto my computer.There are no expensive developing costs for prints.I can take hundreds, even thousands, of pictu res provided I have sufficient memory in my camera.I can edit my photographs myself without needing a professional to do so.I can print pictures easily on my computer.I can easily delete pictures I don’t like.There are many different models of digital cameras to choose from.Digital cameras are convenient and can fit in my pocket or  purse on a night out.Why do you prefer analog cameras?I like the artistic shots I can take.I enjoy the process of developing prints in a darkroom.I enjoy the craft involved, for example having to know how to take advantage of light and positioning.An imperfection in a shot can give it originality. It doesn’t have to be perfect.Yes, digital cameras can be easily deleted but analogue photographs have been around for centuries!Now, let’s look at two photographs of New York City. One   is taken with an analog camera and one with a digital device.Which is which?Why do you think this is so?What are the differences between the two photographs?Which do you prefer?Did you find this blog helpful? Feel free to share this blog on Facebook and Twitter.

AMERICAN WOMAN A Plea to Female Voters

AMERICAN WOMAN A Plea to Female Voters Bust of Susan B. Anthony, one of Americas greatest feministsPhoto by Flickr user cliff1066â„¢ While I know for a fact who I am voting for, and while I am passionate about my political party, I am not here to convince you to side with me. You are a woman with the right to vote (assuming you are of age, of course), and that right is something that did not come easily. Susan B. Anthony, one of America’s most influential and passionate women, once said, “Women, we might as well be dogs baying the moon as petitioners without the right to vote!” Others have fought long and hard for us to have a say in how our country is run, so why neglect that right? A republican woman is equal to a democrat woman is equal to a republican or democrat man. Each vote holds the same weight, and I cannot stress that enough to you ladies. So as November 6th draws closer and closer, get excited. Being active and involved citizens is what will make this nation what it should be. Nothing is more dangerous to our success than apathy, so here I stress one more time to my American women: your voices matter.  Let them be heard.  I hope to see you all with ‘I voted’ stickers come Election Day. For more information on being an active woman voter, I suggest looking into your local chapter of the League of Women Voters.

E-Teachers Conference on Virtual Classrooms

E-Teachers Conference on Virtual Classrooms This morning (China time), we had the opportunity to attend the E-Teachers Academy Conference on Virtual Classrooms, hosted by Kirsten Winkler.  It was one of the most interesting conferences weve seen on the future of the virtual classroom, and the panel was made up of some of the most forward-thinking companies and teachers in this evolving space (view list of panel speakers). We were definitely impressed with the potential in virtual classrooms, and were sure that as the technologies mature, well begin to see more of these classrooms gain wider acceptance.  There are many important features which are not presently integrated or handled well by standard communication tools like Skype,  such as whiteboards, direct document viewing, shared screenshot viewing, and group / class management.  One thing that is clear from the conference is that virtual classrooms are being designed with significant input from teachers. If youre interested in following this debate, you can follow Kirsten on twitter (@KirstenWinkler) as well as the ETCon twitter itself @ETConference.  Were definitely looking forward to the next conference. Kevin and the italki team E-Teachers Conference on Virtual Classrooms This morning (China time), we had the opportunity to attend the E-Teachers Academy Conference on Virtual Classrooms, hosted by Kirsten Winkler.  It was one of the most interesting conferences weve seen on the future of the virtual classroom, and the panel was made up of some of the most forward-thinking companies and teachers in this evolving space (view list of panel speakers). We were definitely impressed with the potential in virtual classrooms, and were sure that as the technologies mature, well begin to see more of these classrooms gain wider acceptance.  There are many important features which are not presently integrated or handled well by standard communication tools like Skype,  such as whiteboards, direct document viewing, shared screenshot viewing, and group / class management.  One thing that is clear from the conference is that virtual classrooms are being designed with significant input from teachers. If youre interested in following this debate, you can follow Kirsten on twitter (@KirstenWinkler) as well as the ETCon twitter itself @ETConference.  Were definitely looking forward to the next conference. Kevin and the italki team

Passport to Teach Resources Recorded webinars and resume samples

Passport to Teach Resources Recorded webinars and resume samples Whether you’re pursuing a better career in education immediately or over time, at home, or overseas, Teach Away’s career development week packed in a pile of valuable information designed to help you learn and grow as an educator. We met with Teach Away Placement Coordinators and teachers around the world to plan a week of webinars with focused discussion topics each day of the week. We covered what you need to know if landing an international placement with Teach Away is a goal of yours.Unfortunately, not everyone was able to tune in each and every day to catch the Passport to Teach webinars live, so we’ve recorded, uploaded, and shared last week’s content here:Passport to Teach | Get Started With Your Teach Abroad ApplicationPassport to Teach | The Complete Teacher Resume & How to Make it Yours  Passport to Teach | Qualifications: Do You Have What It Takes to Teach Abroad?Passport to Teach | Get Ready to Ace Your Teacher InterviewPassport to Teach | Teacher Experiences Fire side Chat  We've also shared our free resume samples. Feel free to reference or download and edit these samples when you overhaul your teaching resume:Free Teach Away Passport to Teach Resume Samples