Frank Plumpton Ramsey was a British philosopher, mathematician, and economist who made major contributions to all three fields before his death at the age of 26. Keynes and Pigou encouraged Ramsey to work on economics. Ramsey responded by writing three papers in economic theory all of which were of fundamental importance, though it was many years before they received their proper recognition by the community of economists. Ramsey’s three papers were on subjective probability and utility (1926), optimal allocation (1927) and optimal one-sector economic growth (1928). Paul Samuelson described them in 1970 as ‘three great legacies – legacies that were for the most part mere by-products of his major interest in the foundations of mathematics and knowledge.’

Key works: 1926 Truth and Probability, 1927 A Contribution to the Theory of Taxation, 1928 A Mathematical Theory of Saving