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Economics TIMELINE 
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Economics TIMELINE

The first "Revolution" ocurred and the classical school of economics was born. In this period Adam Smith made great contribtuions such as division of labor.

1776

Thre neoclassical school of economics was born. The main differnece between the neoclasical and classical school is the determination of the price of a product

1870

The work of Alfred marshall was published making a big contribution to the neoclassical school

1890

Jhon Maynard impulse the next "revolution" and the "Keynesian economics" emerge as a new school of thought.

1920

The work "General theory of emplyment, interest and money" is published by Keynes

1936

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Lorem ipsum dolor sit amet, consectetur dipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam.

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Economics TIMELINE

Many countries began to face the high unemplyment problem wich the Keynesian theory wasn't capable of explaining

21st century

Monetarism aperas by the hand of Milton Friedman. This thought states that the main determinant of economic growth is the total amount of money in the economy

1970s

1960

Challenges to the assumption has led to another school of economics called "behaviora; economics". In this school aspects of psicology are also inclued

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