Did you know that Adam Smith, known as the father of economics, laid the foundation for classical economics with his book The Wealth of Nations published in 1776? He introduced the concept of the invisible hand, which refers to the self-regulating nature of the marketplace. Another renowned economist, John Maynard Keynes, revolutionized economic theory during the Great Depression. His ideas on government intervention to stabilize the economy and combat unemployment became known as Keynesian economics. Milton Friedman, a Nobel laureate, was a vocal advocate of free-market capitalism and monetarism. He believed that the government's role in the economy should be limited, and that controlling the money supply was crucial for economic stability. Amartya Sen, an Indian economist and philosopher, won the Nobel Prize in Economics for his work on welfare economics and social choice theory. He emphasized the importance of individual freedoms and capabilities in assessing economic development. Esther Duflo, along with Abhijit Banerjee and Michael Kremer, won the Nobel Prize in Economics in 2019 for their experimental approach to alleviating global poverty through randomized control trials. These economists have made significant contributions to the field of economics and have shaped the way we understand and analyze economic systems worldwide.