1.

The invisible hand theory how free markets can incentivize individuals, acting in their
own self-interest, to produce what is societally necessary.
2. Keynes argued that governments should solve problems in the short run rather than wait
for market forces to fix things over the long run
3. Marx predicted, private ownership of the means of production would be replaced by
collective ownership, first under socialism and then under communism.
4. Adam Smith was a political economist during the Scottish Enlightenment best known
for The Theory of Moral Sentiments and The Wealth of Nations. David Ricardo, a
member of the British Parliament and economist, argued that nations should specialize
for their greater good. Abhijit Banerjee and Esther Duflo pioneered an experimental
approach to developmental economics, allowing a precise evaluation of specific
policies.