Board of Economic Advisors

by Gabriela Santana

Adam Smith

Smith is the author of The Wealth of Nations. He claimed that rational self-interest and competition can lead to economic prosperity. In the late industrial revolution Britain actually eventually embraced Smiths free trade and Laissez-faire economics. Smith's Wealth of Nations is still used currently, and is thought as one of the most important books in terms of economics, this book is owned by Scotland's prime minister who apparently always keeps a copy in her handbag.

Milton Friedman

He is the 1976 winner of the Nobel Memorial Prize In Economic Science. He praised the virtues of the free market economic system, that required minimal intervention. Also although Regan may not have a great name in American history Friedman was his advisor.

Friedrich Hayek

Hayek was an Austrian and British economist and philosopher best known for his defense of classic liberalism. Won the 1976 Nobel Memorial Prize in economic science. In 1984, he was given membership of the Order of the Companions of Honor by Queen Elizabeth the second, due to the advice of Prime Minister Margaret Thatcher for his "services to the study of economics".
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John Maynard Keynes

An English economist whose ideas fundamentally changed the theory and practice of macroeconomics and the economic policies of governments. Keynes challenged a lot of neoclassical economic ideas. Argued theories of employment vs. theories of unemployment.
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