Questions what is the main features of the socialist economy?

What are the contributions of Adam Smith to the science?

Key words: Life of the scholar, books, thoughts, solutions.
Adam Smith was a Scottish economist, philosopher as well as a moral philosopher, a pioneer of political economy, and a key figure during the Scottish Enlightenment, also known as ''The Father of Capitalism''.Smith was born in Kirkcaldy, in Fife, Scotland.Smith entered the University of Glasgow when he was 14 and studied moral philosophy under Francis Hutcheson.In 1740, he was the graduate scholar presented to undertake postgraduate studies at Balliol College, Oxford, under the Snell Exhibition.
Works:
Theory of moral sentiments
The goal in writing the work was to explain the source of mankind's ability to form moral judgment, given that people begin life with no moral sentiments at all.
The wealth of Nations
The central idea of Smith's "The Wealth of Nations" is that our individual need to fulfill self-interest results in societal benefit, in what is known as his "invisible hand".

109. 
     Life and work of John Maynard Keynes.
     

Key words: Life of the scholar, books, thoughts, solutions.
English economist, journalist, and financier, best known for his economic theories (Keynesian economics) on the causes of prolonged unemployment. His most important work, The General Theory of Employment, Interest and Money (1935–36), advocated a remedy for economic recession based on a government-sponsored policy of full employment.
Keynes was born into a moderately prosperous family. His father, John Neville Keynes, was an economist and later an academic administrator at the King’s College, Cambridge. His mother was one of the first female graduates of the same university, which Keynes entered in 1902.
His book ,The General Theory, as it has come to be called, is one of the most influential economics books in history which suggests that a reduction in wage rates would not reduce unemployment; instead, the key to reducing unemployment was to increase government spending and to run a budget deficit.

110.