Did you know that John Maynard Keynes, an influential economist of the 20th century, is hailed as the father of modern macroeconomics for his groundbreaking work during the Great Depression? His ideas helped shape economic policy worldwide and laid the foundation for the welfare state. Another renowned economist, Adam Smith, is often referred to as the father of modern economics. He is best known for his book The Wealth of Nations, in which he introduced the concept of the invisible hand – the idea that individuals pursuing their self-interest can inadvertently benefit society as a whole. Milton Friedman, a prominent figure in the Chicago school of economics, advocated for free-market capitalism and monetarism. He believed in limited government intervention in the economy and was a staunch critic of Keynesian economics. Nobel laureate Amartya Sen is known for his work on welfare economics and social choice theory. He is credited with developing the capability approach, which focuses on enhancing individuals' freedom to live the lives they value. These economists have left a lasting impact on the field of finance and continue to influence economic thought and policy to this day.