Did you know that John Maynard Keynes is considered one of the most influential economists of the 20th century? He proposed the theory of Keynesian economics, which advocated for government intervention in times of economic crisis to stimulate growth and reduce unemployment. Another famous economist is Adam Smith, known as the father of modern economics. He introduced the concept of the invisible hand, which suggests that individuals pursuing their own self-interest can unintentionally benefit society as a whole. Milton Friedman, a Nobel laureate, is recognized for his advocacy of monetarism, which emphasizes the role of government regulation of the money supply in controlling inflation and stabilizing the economy. Elinor Ostrom was the first woman to win the Nobel Prize in Economics for her work on the governance of common-pool resources. Her research challenged the conventional wisdom that common resources are inevitably doomed to overexploitation. Paul Krugman, a prominent figure in contemporary economics, received the Nobel Prize for his work on international trade and economic geography. He is also known for his contributions to understanding the impacts of fiscal policy on economic growth. These economists have each made significant contributions to the field of economics and have shaped our understanding of how economies function and develop.