Who coined the concept of “Paradox of Thrift”?

* John Maynard Keynes introduced and popularized this concept in his work, particularly “The General Theory of Employment, Interest and Money” (1936).
* The Paradox of Thrift suggests that if, during a recession, individuals and households collectively decide to save more money, it can lead to a decrease in aggregate demand, a reduction in economic growth, and paradoxically, a potential decrease in overall saving for the economy as a whole, because incomes fall. While individual saving is prudent, mass saving can be detrimental to the macroeconomy during a downturn.
* Adam Smith is known as the father of classical economics and focused on concepts like the invisible hand, free markets, and division of labour.
* Alfred Marshall was a leading figure in neoclassical economics, contributing significantly to microeconomic theory like supply and demand, marginal utility, etc.
* Paul A. Samuelson was a prominent 20th-century economist who helped synthesize classical, neoclassical, and Keynesian economics. While he discussed the Paradox of Thrift, the concept is primarily attributed to Keynes.