The following points highlight the top five contributions of Paul A. Samuelson to Economics to Economics. The contributions are: 1. Theory of Revealed Preference 2. Business Cycles 3. Social Welfare Function 4. Samuelson's Utility Possibility Approach 5. Inflation. Contribution # 1. Theory of Revealed Preference: In revealed preference theory, the consumer is supposed to reveal his preferences. When a consumer [...]
The following points highlight the top five contributions of Robert A. Mundell to Economics. The contributions are: 1. Theory of International Trade 2. The Mundell-Fleming Model of an Open Macro Economy 3. The Optimum Currency Area Argument 4. The Monetary Approach to the Balance of Payments 5. Fiscal-Monetary Mixtures and the Assignment Rule. Contribution # 1. Theory of International Trade: [...]
The following points highlight the top thirteen contributions of V.K.R.V. Rao to Economics. The contributions are: 1. Economic Activity 2. Features of Underdeveloped Countries 3. Industrial Development 4. National Income Methodology 5. Institutional Development 6. Poverty 7. Deficit Financing 8. Fiscal Policy 9. Income Tax 10. Price Policy 11. The Human Factor in Economic Growth and Others. Contribution # 1. [...]