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List of prominent scholars and the work in field of economics

List of prominent scholars and the work in field of economics  Adam Smith - "The Wealth of Nations" (1776) - Laid the foundation for classical economics. John Maynard Keynes - "The General Theory of Employment, Interest, and Money" (1936) - A key figure in the development of modern macroeconomics. Milton Friedman - "A Monetary History of the United States" (1963) - Championed monetarism and free-market principles. Amartya Sen - Work on welfare economics and development, notably "Development as Freedom" (1999). Paul Krugman - Contributions to international trade theory and economic geography. Won the Nobel Prize in 2008. Joseph Stiglitz - Work on information asymmetry, development economics, and global economic issues. Nobel Prize in 2001. Thomas Piketty - "Capital in the Twenty-First Century" (2013) - Analyzed wealth and income inequality over time. Gary Becker - Pioneer in the field of human capital theory and the economic anal

UGC NET ,UPSC and other Competitive exams Concept of Cash and Money (Macroeconomics)

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UGC NET ,UPSC and other Competitive exams  Concept of Cash and Money (Macroeconomics) Money Concept Cash is any thing or obvious record that is commonly acknowledged as installment for merchandise and ventures and reimbursement of obligations, for example, charges, in a specific nation or financial setting. The fundamental elements of cash are recognized as: a mode of trade, a unit of record, a store of significant worth and now and then, a standard of conceded payment.Any thing or irrefutable record that satisfies these capacities can be considered as cash. Cash is truly a new market wonder building up an item cash, yet almost all contemporary cash frameworks depend on fiat money.Fiat cash, similar to any check or note of obligation, is without use an incentive as a physical ware. It determines its incentive by being announced by an administration to be lawful delicate; that is, it must be acknowledged as a fullment inside the limits of the nation, for "all ob

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