- Tao Zhugong created the field of business economics around 500 BC
- Adam Smith said markets arise from the efforts of man not governments.
- Richard Cantillon recognized the critical role of entrepreneurs in stimulating economic growth.
- Jean Baptiste Say pointed out that merchants expand a market by offering products for sale.
- Milton Friedman pointed out government is the dominant market disruptor through unearned spending.
- Friedrich Hayek explained that economics is a field like law created by the actions of man.
- David Ricardo created the parameters of a central banking system.
- Ronald Coase expanded our understanding of the costs involved in a business transaction.
- Leon Walras focused attention on the value of a customer that a customer obtains through a purchase and explained how an auction like process governs market transactions.
- Ernst Fehr advance the field of behavioral economics by raising the prominence of marketing and business.
Top 10 Market Economists
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