Board of Economic Advisors
Alani, Cayla, Iswariya, & Saida
In our Island, Smith will contribute by finding trade and spending patterns, as well as, how to maintain a political economy. This will benefit when making economic spending decisions with other places and inland.
Friedman will contribute to our society by helping deter detrimental inflation. His experience will help us understand the trends in our economy and reasonable prices.
Friedrich Hayek would benefit our island in providing a market that will eventually control the lack of unemployment. This means that the money supply would be also controlled to lead to this step. The economy would have no taxation, since taxation according to Hayek violates equality before the law.
John Maynard Keynes
Keynes was born in Cambridge and attended King’s College, Cambridge, where he earned his degree in mathematics in 1905. After leaving Cambridge, Keynes took a position with the civil service in Britain. He returned to Cambridge in 1908 as a lecturer, then took a leave of absence to work for the British Treasury. By 1919 was the Treasury’s principal representative at the peace conference at Versailles. At the 1944 Bretton Woods Conference, where the International Monetary Fund was established, Keynes was one of the architects of the postwar system of fixed exchange rates. Keynes became one of the most respected economists of the century when his eloquent book The Economic Consequences of the Peace was published in 1919.
Keynes will help our island by helping employ the practice of modern macroeconomics. He will also help by creating economic policies for our government.