| Contribution to Economics | Economist |
|---|
| His book The Wealth of Nations showed the power of the 'invisible hand' of the market. | |
| He developed the theory of comparative advantage. | |
| His Essay on the Principle of Population predicted that population growth would drive living standards toward the subsistence level. | |
| His book Elements of Pure Economics is the pioneering work of general equilibrium theory. | |
| His Principles of Economics brought the ideas of supply and demand, marginal utility and the costs of production into a coherent whole. Developed the concepts of consumer surplus. | |
| His Theory of the Leisure Class critiqued consumerism and focused on the quest for social status, developing the idea of “conspicuous consumption.” | |
| The 'father of modern macroeconomics' and author of The General Theory of Employment, Interest, and Money . | |
| His book Capitalism, Socialism and Democracy critiqued socialism and explained the dynamics of capitalism, the role of entrepreneurs and “creative destruction.” | |
| The 'father of monetarism,' and author (with Anna Schwartz) of A Monetary History of the United States, 1867–1960. | |
| Applied economic theory to topics once on the margin of economics, such as discrimination, crime, families and drug use. Wrote The Economics of Discrimination. | |
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