The study of economics has always been recognized as one of the most complex studies that have ever existed in the history of mankind. Many do not realize that economics has evolved around us since the existence of the first human kinds. It has been continuously developed and became more essential to the society as humans became more civilized as a whole. Economics is the study of how a society distributes its limited resources among its unlimited wants. Unlike studies of computers and astronomy, the history and making of economic studies evidently did not just take place recently, but instead it can be dated back to the 1700's when economics was first studied. Many past great economic philosophers who believed and lived by their own theories helped shape the evolution of economic studies. Adam Smith, Milton Friedman, John Galbraith, John Keynes and Karl Marx are the example of economic philosophers who presented their economic theories of value, production and distribution to the society. Their ideas can generally be grouped into three categories: command, market and mixed. Well who were these men? One would think that in a world surrounded by economic problems, a world that is constantly in worries about economic affairs and skeptics of economic breakdowns, these great philosophers would be as famous as Einstein and George Bush. Instead, their theories and themselves remain figures of the past to the general public. The following paragraphs will provide explanations of these great economic philosophers' theories and how they apply to today's economy.
             Adam Smith is perhaps one of the most famous economic philosophers of all times and almost everyone has heard of his masterpiece-- "The Wealth of Nations". Being raised and influenced by a liberal and free surrounding, Smith was a firm believer of what's called a "Free Market" economic system. He believed that minimal to zero government invol...