Wesley Michael Mitchell

Wesley Michael Mitchell was an influential American economist born in 1874, known for founding the field of macroeconomics—studying the economy as a whole rather than individual markets. He emphasized the importance of analyzing long-term economic trends and cyclical fluctuations, such as booms and recessions. Mitchell played a key role in developing national income accounting, helping to measure a country's economic performance. His work contributed to more effective economic policies and understanding economic stability. Overall, his ideas helped shape how economists and policymakers understand and respond to economic changes over time.