Economists who studied with Hayek at the LSE in the 1930s and the 1940s include Arthur Lewis, Ronald Coase, John Kenneth Galbraith, Abba Lerner, Nicholas Kaldor, George Shackle, Thomas Balogh, Vera Smith, L. K. Jha, Arthur Seldon, Paul Rosenstein-Rodan, and Oskar Lange.

Economists such as Milton Friedman and Dr. Ravi Batra have theorized ways that a modern economy could have low inflation and near full employment ( as in close to 100 % of those who are not students and are healthy enough to work, and who wish to work at any given point in time ), as of yet these have yet to be widely disseminated through the press or introduced by most governments.

Economists have suggested that those who support protectionism ostensibly to further the interests of workers in least developed countries are in fact being disingenuous, seeking only to protect jobs in developed countries.

Economists Matthew Bishop and Michael Green claim that full acceptance of the hypothesis goes against the thinking of Adam Smith and John Maynard Keynes, who both believed irrational behavior had a real impact on the markets.

Economists who believe this to be the case refer to this as a monopoly wage.

Economists such as Paul Craig Roberts claim that those economists who promote offshoring misunderstand the difference between comparative advantage and absolute advantage.

Economists include academics who undertake research and teaching in economics, and professionals with economic expertise employed by governments, financial institutions and other businesses.

Economists ’ findings about the benefits of trade have often been rejected by government policy-makers, who have frequently sought to protect domestic industries against foreign competition by erecting barriers, such as tariffs and quotas, against imports.

Economists who advocated these policies do not necessarily share principles, such as Nobel prize-winning economists Milton Friedman ( Monetarism school ), George Stigler ( Chicago School of Economics / Neo-Classical Economics ), Richard Posner ( Chicago School / Pragmatism ), and Friedrich Hayek ( Austrian School of Economics ), have sought substantially to limit economic regulation.

Economists, political economists and historians have taken different perspectives on the analysis of capitalism.

Economists usually emphasize the degree to which government does not have control over markets ( laissez faire ), as well as the importance of property rights.

Economists have theorized that e-commerce ought to lead to intensified price competition, as it increases consumers ' ability to gather information about products and prices.

Economists have also shown that IP can be a disincentive to innovation when that innovation is drastic.

Economists have done empirical studies on numerous aspects of the minimum wage, prominently including:

Economists and other political commentators have proposed alternatives to the minimum wage.

Economists have attempted to model the circumstances under which slavery ( and variants such as serfdom ) appear and disappear.

Economists have further criticized comparative negligence, since under the Learned Hand Rule it will not yield optimal precaution levels.

Economists have considered poll taxes economically efficient because people are presumed to be in fixed supply.

Economists have urged the use of " market-based " instruments such as emissions trading to address environmental problems instead of prescriptive " command and control " regulation.

Economists have elaborated the economics of gift-giving into the notion of a gift economy.

Economists have, in fact, often been frustrated by public opposition to economic reasoning.

As Sam Peltzman puts it " Economists know what steps would improve the efficiency of HSE safety, and environmental regulation, and they have not been bashful advocates of them.

Economists have criticized the government's fiscal policy, whose level of expenditures and indebtness has increase significantly within the past decade while the economy was grown at a much slower pace.

Economists aligned with his government have argued that this was due to external factors outside the control of the administration at the time, such as the devaluation of the Brazilian real and the growth of the share of the debt denominated in US dollars.

Economists such as Tim Harford in the Undercover Economist have argued that this is a form of price discrimination: by providing a choice between a regular and premium product, consumers are being asked to reveal their degree of price sensitivity ( or willingness to pay ) for comparable products.

Later becoming editor-in-chief of The Economist, which had been founded by his father-in-law, James Wilson, in 1860, Bagehot expanded The Economists reporting on the United States and on politics and is considered to have increased its influence among policymakers over the seventeen years he served as editor.

Economists such as Paul Krugman and Jeffrey Sachs have also analyzed many traits related to economic geography.

Economists Dani Rodrik and Jeffrey Sachs have separately noted that there appears to be little correlation between measured economic freedom and economic growth when the least free countries are disregarded, as indicated by the strong growth of the Chinese economy in recent years.

Economists Stephen Moore and Richard Vedder have written in the Wall Street Journal that every new dollar of new taxes leads to more than one dollar of new spending according to their research.

Economists disagree as to the measurable impact of minimum wages in the ' real world '.

" Economists working in the Marxian-Sraffian tradition represent a small minority of modern economists, and that their writings have virtually no impact upon the professional work of most economists in major English-language universities ", according to George Stigler.

Economists, however, are somewhat more optimistic about rail transit's impact on economic development.

Economists estimate that the University has created at least 3, 000 new jobs within Lincoln and that it generates more than £ 250 million every year for the local economy-doubling previous local economic growth rates.

* Economists and political scientists often associate the term with approaches using rational choice assumptions, especially game theory and social choice theory, in explaining phenomena beyond economics ' standard remit, such as corruption, government failure and complex decision-making in which context the term " positive political economy " is common.

Economists are now actively estimating quantitative models of this type, and using them to analyze optimal monetary and fiscal policy.

Economists, using statistical analysis, have shown very strong evidence of bout fixing in Sumo wrestling.

Economists usually follow Cagan ’ s description that hyperinflation occurs when the monthly inflation rate exceeds 50 %.

Economists then judge the " openness " of markets according to the amount of government regulation of those markets, the scope for competition, and the absence or presence of local cultural customs which get in the way of trade.

Economists overwhelmingly agree that the Washington Consensus was incomplete, and that countries in Latin America and elsewhere need to move beyond " first generation " macroeconomic and trade reforms to a stronger focus on productivity-boosting reforms and direct programs to support the poor.

Economists generally agree that trade barriers are detrimental and decrease overall economic efficiency, this can be explained by the theory of comparative advantage.

Economists work in many fields including academia, government and in the private sector, where they may also "... study data and statistics in order to spot trends in economic activity, economic confidence levels, and consumer attitudes.