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The earliest example of persistent economic activity occurred in four key areas of the world, namely, the Sumerian & Babylonian Civilization (in modern Iraq & Syria), the Indus Valley Civilizations (in modern Pakistan, India, and Afghanistan), the Egyptian Civilization, and the Yangtze River Civilization in China.
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Scottish thinker Adam Smith is considered the patriarch of modern economics. Karl Marx, William Stanley, Carl Menger, and two of the most notable economists of the 20th century, John Maynard Keynes (the father of macroeconomics) and Milton Friedman, developed prominent & widely-accepted schools of thought in the domain.
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