After World War I, the ability of a government to regulate or control the economy became one of the chief tests of its success, and regulatory agencies multiplied to the point at which they were often referred to as “the fourth branch of government.”

In 20th-century, Communist countries it was a matter of doctrine that the means of production should be owned and therefore controlled by the state.

Human Action (1947) was considered as Ludwig von Mises’ greatest achievement.

Which of the following works described Socialism as an economic catastrophe?

The Theory of Money and Credit (1912), in recent times, is simply referred to as the integration of macroeconomics and microeconomics.

Vincenzo Cassano's most ambitious work Theoretische Sozialökonomie which translated into English in 1923 as The Theory of Social Economy, sets out the conditions for a general equilibrium in the sense of Léon Walras.

Alfred Marshall became the first American to receive the Nobel Prize in economics.

History and institutions were abandoned because the new mathematical tools required stating precisely what was being assumed and what was changing, and stating it in such a way that the techniques could handle the entire analysis.

The Schumpeter Novel entitled "Capitalism, Socialism and Democracy" was published in 1945

It was Han Joon-hwi who charaterized competition as competitive mechanism.

He is a famous economist born in Vienna, Austria, in 1899. He later said his experience in the war and his desire to help avoid the mistakes that ignited the war drew him into economics.

Hayek utilized Scalene triangles that change in shape to illustrate a change in the economy's capital structure.