Board of Economic Advisers

for the Country of Liberum Paradiso

Adam Smith

Better known as the world's "first free-market capitalist", Adam Smith has played a major role in the world of economics. Through his most famous work, An Inquiry Into the Nature and Causes of the Wealth of Nations (also known as the The Wealth of Nations), Smith has established himself as the "father of economics". With his modern popularization of ideas such as laissez-faire economics, modern free trade, capitalism, divisions of labor, and the invisible-hand theory, Smith has set the foundation for the school of thought commonly known today as classical economics.


Not only will Smith's experiences aid in the creation of a fair and equal economic system for Liberum Paradiso, but Smith can further advise our country in future economic endeavors so that we may maintain a stable economic system. With Smith on our board, our country can feel secure knowing that all major economic decisions will be made through the advice of a master economic veteran.

Milton Friedman

Recipient of the 1976 Nobel Prize for Economic Science, Milton Friedman is best known for his outstanding achievements in monetary economics and public policy. An economic board member to past United States President Ronald Reagan, and an economic advisor to previous U.S. Senator Barry Goldwater, Friedman is a highly qualified candidate to the advisement of our country's economic system. With his most notable book entitled Capitalism and Freedom; Bright Promises, Dismal Performance, it is evident that Friedman contains more than enough experience to wisely guide our country in all of it's economic choices.


With Friedman on our board, Liberum Paradiso can expect to gain phenomenal aid in the economic field. Specifically, in the preservation and expansion of individual freedom, and monetary economics. Not only could this knowledge lead Liberum Paradiso to increasing its use of money as a tool for economic advancements, but Friedman could also aid in our country's fight against inflation.

Friedrich Hayek

A famous economist, Hayek is most recognized for his many contributions to the field of economics and political philosophy. Renowned for his defense of free-market capitalism, Hayek is an excellent addition to our board of economic advisers. A co-winner to the 1974 Nobel Prize in economics for his "pioneering work in the theory of money and economic fluctuations" and his outstanding analysis of "interdependence of economic, social and institutional phenomena", Hayek can easily assist our country exceed all expectations in creating a profitable economy.


Hayek's vast knowledge of free-market capitalism will greatly benefit Liberum Paradiso and all it's goals for creating a individualized economy that will favor our people. With Hayek at on our side, our country can only anticipate in creating an economy that will strive to maintain the freedom and liberty of every individual.

John Maynard Keynes

Known as one of the "groundbreaking economists of his day", John Keynes is widely known as the founding father of current day branch of macroeconomics. A branch that has become commonly known today as "Keynesian economics". After post World War II, many governments began to follow certain macroeconomic principles more closely, including interest rates and employment because of Keynes' multiple new theories and ideas.


Through the use of fiscal and monetary policies, Keynes could very well guide Liberum Paradiso down the road of economic prosperity. Not only could such policies avoid the long term effects of expansion and contraction in the common business cycle, but such policies could also remove potential inflation. With Keynes' knowledge and advisory, Liberum Paradiso could very well prevent all possibilities of any future economic slumps.

Works Cited

Smith, Lisa. "Adam Smith: The Father Of Economics." Investopedia. Investopedia. Web. 10 Nov. 2014. <http://www.investopedia.com/articles/economics/08/adam-smith-economics.asp>.


Burton, P.S. "Adam Smith The Muir Portrait." Wikipedia. Wikimedia Foundation. Web. 10 Nov. 2014. <http://en.wikipedia.org/wiki/Adam_Smith#mediaviewer/File:Adam_Smith_The_Muir_portrait.jpg>.


"Friedrich August von Hayek - Facts". Nobelprize.org. Nobel Media AB 2014. Web. 10 Nov 2014. <http://www.nobelprize.org/nobel_prizes/economic-sciences/laureates/1974/hayek-facts.html>


"Friedrich Hayek Definition | Investopedia." Investopedia. Investopedia.com. Web. 10 Nov. 2014.<http://www.investopedia.com/terms/f/friedrich-hayek.asp>.


"John Maynard Keynes Definition | Investopedia." Investopedia. Investopedia.com. Web. 10 Nov. 2014. <http://www.investopedia.com/terms/j/john_maynard_keynes.asp>.


"Keynesian Economics Definition | Investopedia." Investopedia. Investopedia.com. Web. 10 Nov. 2014. <http://www.investopedia.com/terms/k/keynesianeconomics.asp>.


"Milton Friedman - Biography." Cato Institute. Cato Institute. Web. 10 Nov. 2014. <http://www.cato.org/special/friedman/friedman/index.html>.


"Portrait of Milton Friedman." Wikipedia. Wikimedia Foundation, 17 Sept. 2004. Web. 10 Nov. 2014. <http://en.wikipedia.org/wiki/Milton_Friedman#mediaviewer/File:Portrait_of_Milton_Friedman.jpg>.


John Maynard Keynes, Baron Keynes. 1937. By Ramsey and Muspratt.