Board of advisors

For kamea

Adam smith

Adam Smith is often touted as the world's first free-market capitalist. Smith's place in history as the father of modern economics and a major proponent of laissez-faire economic policies is quite secure. He wrote a book for every day readers addressing what is known as classical economics. Laissez-faire philosophies, such as minimizing the role of government intervention and taxation in the free markets, and the idea that an "iinvisible hand" guides supply and demand are among the key ideas Smith's writing is responsible for promoting. These ideas reflect the concept that each person, by looking out for him or herself, inadvertently helps to create the best outcome for all.

Smith would be beneficial to our island because we has very good intellect on economics and how we should produce items and production. He knows how to run an efficient assembly line to get work done faster and be more productive. He also can help with selling products that buyers want to buy. He is know to like a capitalist economy, so infer chose to have that type of economy he could be a great help. He believes in through supply and demand and competition for scarce resources, rather than as something that results in the well-being of individuals.

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Milton Friedman

An American economist and statistician best known for his strong belief in free-market capitalism. Milton Friedman strongly opposed the views of Keynesian economists, encouraging governments to minimize their involvement in the economy by reducing taxes. Friedman showed that, instead, people’s annual consumption is a function of their “permanent income,” a term he introduced as a measure of the average income people expect over a few years. He argued for, among other things, a volunteer army, freely floating exchange rates, abolition of licensing of doctors, a negative income tax.

Friedman could help us in making the decesion of how we want torun our government. He had smart ideas about lowering taxes, which our residents would love. He also believes that the government should be less involve which would allow the people to make more decesions in their economy. He could produce many ideas that could be beneficial to the people of our island and the way they will be living.

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Friedrich Hayek

Friedrich Hayek is well-known for his numerous contributions in the field of economics and political philosophy. Hayek's approach mostly stems from the Austrian school of economics and emphasizes the limited nature of knowledge. He is particularly famous for his defense of free-market capitalism and is remembered as one of the greatest critics of the socialist consensus.

Hayek has some similar beliefs to smith. He could help us with deciding how to run our economy market. He believes in a planned market which will lead to people with jobs and a steady economy. He think that increases in prices would lead to dropped intrest rates, making credit artificially cheap. He could help us make financial decesions.

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John Maynard Keynes

Keynes’s General Theory revolutionized the way economists think about economics. It was pathbreaking in several ways, in particular because it introduced the notion of aggregate demand as the sum of consumption, investment, and government spending; and because it showed that full employment could be maintained only with the help of government. Some think he attributed it to wages that take a long time to fall. But Keynes actually wanted wages not to fall, and in fact advocated in the General Theory that wages be kept stable. A general cut in wages, he argued, would decrease income, consumption, and aggregate demand. This would offset any benefits to output that the lower price of labor might have contributed.

Keynes believes that the government should be more involved. He would be useful in making decesions in places where the government should be more involved and how they can help. He can really help with our labor and production. He knows about how to maintain wages and productive labor. He believes in keeping wages stable to keep a better income. This would really help people working and living on our island.

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