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14 December, 14:25

Which economists has played a central role in the development of the economics of collective decision making

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  1. 14 December, 17:25
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    Karl Marx

    Explanation:

    Karl Marx was known as the person who popularize the concept of Communism.

    This economic ideology oppose the capitalism ideology which advocated people to become individualistic and act depending on market demand in order to obtain profit.

    Communism advocated for a centralized decision for the economy.

    Rather than giving people the freedom to pursue their interest, it advocated a collective decision making in which a centralized government is established to make the decision for all people.
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