Competing Schools of Economic Thought
Competing Schools of Economic Thought

Author: Lefteris Tsoulfidis

Publisher: Springer Science & Business Media

Published: 2010-06-29

Total Pages: 389

ISBN-13: 3540926933

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1. 1 Introduction This book was born out of our reaction to the way in which the usual texts cover the subject of the history of economic thought. In most of these texts, there is a tendency to emphasize the similarities and differences between all the important economists and form a repository of encyclopedic knowledge where one can study the seemingly important economic ideas. In this book, we argue that it is much more fruitful to focus on the essential ideas of each and every school of economic thought and relate them to present-day problems, than to engage into a sterile discussion of the ideas and the lives of the great economists of the past. Thus, although this book deals with the history of economic thought, it does not necessarily follow a historic (in the sense of the order of presentation) approach, but rather a logical one, that is to say it deals with the social conditions associated with the emergence of a school of economic thought, its evolution, and its contemporary in?uence. One cannot write a book on the history of economic thought without writing separate chapters on the major economists of the past, that is, Adam Smith, David Ricardo, Karl Marx, and J. M. Keynes. Of course these economists formed schools of economic thought, that is, the classical and the Keynesian.

Economic Thought Schools
Economic Thought Schools

Author: Fouad Sabry

Publisher: One Billion Knowledgeable

Published: 2023-12-23

Total Pages: 332

ISBN-13:

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What is Economic Thought Schools A school of economic thought is a collection of economists who have shared or shared a common perspective on the way economies function. This school of thought has its roots in the history of economic theory. Although there are instances when economists do not fit into specific schools of thinking, particularly in modern times, it is customary practice to categorize economists according to their schools of thought. There are three distinct phases that can be loosely distinguished in terms of economic thought: premodern, early modern, and modern. Since the beginning of what is known as the modern era, systematic economic theory has been developed to a significant extent. How you will benefit (I) Insights, and validations about the following topics: Chapter 1: Schools of economic thought Chapter 2: Neoclassical economics Chapter 3: General equilibrium theory Chapter 4: Index of economics articles Chapter 5: Business cycle Chapter 6: Classical economics Chapter 7: Economic efficiency Chapter 8: Heterodox economics Chapter 9: Lange model Chapter 10: Mainstream economics Chapter 11: Neoclassical synthesis Chapter 12: New classical macroeconomics Chapter 13: Economic ideology Chapter 14: Keynesian Revolution Chapter 15: History of macroeconomic thought Chapter 16: Anwar Shaikh (economist) Chapter 17: Perspectives on capitalism by school of thought Chapter 18: New neoclassical synthesis Chapter 19: Disequilibrium macroeconomics Chapter 20: Marxian economics Chapter 21: Marxism and Keynesian economics (II) Answering the public top questions about economic thought schools. (III) Real world examples for the usage of economic thought schools in many fields. (IV) Rich glossary featuring over 1200 terms to unlock a comprehensive understanding of economic thought schools. (eBook only). Who will benefit Professionals, undergraduate and graduate students, enthusiasts, hobbyists, and those who want to go beyond basic knowledge or information for any kind of economic thought schools.

Competing Schools of Economic Thought
Competing Schools of Economic Thought

Author: Lefteris Tsoulfidis

Publisher: Springer

Published: 2024-07-08

Total Pages: 0

ISBN-13: 9783031585791

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This book presents a comprehensive overview of the development of various schools of economic thought. Written for students of economics and anyone interested in the history of economics, it introduces the economic thinking of major economists, including Adam Smith, David Ricardo, Karl Marx, and John Maynard Keynes, and explains how classical economics and modern schools of economic thought evolved also in relation to the social conditions and real economic problems they were trying to address. It covers topics such as the evolution of classical economics, the marginal revolution, the theory of capital and the Cambridge controversies, Keynes’s General Theory, the neoclassical synthesis, and the history of macroeconomics. The author also reflects on the contemporary influence of various schools of economic thought and what answers they offer to present-day problems. The second edition is completely updated and offers two new chapters, one on the methodology of economics and another on economic growth. The final chapter presents and critically evaluates developments in macroeconomics in the years after the "Great Recession."

A Short History of Economic Thought
A Short History of Economic Thought

Author: Bo Sandelin

Publisher: Routledge

Published: 2014-08-08

Total Pages: 129

ISBN-13: 131767376X

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This book, now in its third edition, provides an elementary introduction to the history of economic thought. A chapter is devoted to each of the major developments in the history of the discipline, before a concluding chapter in which the authors draw together some of the key strands and comment on some major works and textbooks in the history of economic ideas. They also reflect on the changes in economic thinking within the general context of the philosophy of science. This new edition continues to offer the clear and concise coverage of the main schools of thought and paradigm shifts in the field that has become the volume’s trademark. The book has been thoroughly updated throughout in order to reflect changes in the landscape of the field. Details on key thinkers, and aspects of the story such as the evolution of scholarship on growth and development, have been added or expanded, whilst not compromising on the book’s concise approach. Key updates include: Biographical- and bibliographical information is brought up to date throughout the text North American economists John Kenneth Galbraith and Kenneth Ewart Boulding make their first appearance in this edition Information on developments in institutional economics, addressing in particular the works of 2009 Nobel prize winner Elinor Ostrom). This book has become well known for its innovative coverage of the economic thinking of mainland Europe, whilst also addressing Anglo-American trends. It provides a short and highly readable overview of the evolution of economic thought, usable in courses where the history of economic thought constitutes only a small part or required background reading. It continues to be an extremely useful, much needed text for all introductory economics courses in the field.

Contending Economic Theories
Contending Economic Theories

Author: Richard D. Wolff

Publisher: MIT Press

Published: 2012-09-07

Total Pages: 425

ISBN-13: 0262517833

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A systematic comparison of the 3 major economic theories—neoclassical, Keynesian, and Marxian—showing how they differ and why these differences matter in shaping economic theory and practice. Contending Economic Theories offers a unique comparative treatment of the three main theories in economics as it is taught today: neoclassical, Keynesian, and Marxian. Each is developed and discussed in its own chapter, yet also differentiated from and compared to the other two theories. The authors identify each theory's starting point, its goals and foci, and its internal logic. They connect their comparative theory analysis to the larger policy issues that divide the rival camps of theorists around such central issues as the role government should play in the economy and the class structure of production, stressing the different analytical, policy, and social decisions that flow from each theory's conceptualization of economics. Building on their earlier book Economics: Marxian versus Neoclassical, the authors offer an expanded treatment of Keynesian economics and a comprehensive introduction to Marxian economics, including its class analysis of society. Beyond providing a systematic explanation of the logic and structure of standard neoclassical theory, they analyze recent extensions and developments of that theory around such topics as market imperfections, information economics, new theories of equilibrium, and behavioral economics, considering whether these advances represent new paradigms or merely adjustments to the standard theory. They also explain why economic reasoning has varied among these three approaches throughout the twentieth century, and why this variation continues today—as neoclassical views give way to new Keynesian approaches in the wake of the economic collapse of 2008.

Capitalism
Capitalism

Author: Anwar Shaikh

Publisher: Oxford University Press

Published: 2016-01-15

Total Pages: 1019

ISBN-13: 0199390657

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Orthodox economics operates within a hypothesized world of perfect competition in which perfect consumers and firms act to bring about supposedly optimal outcomes. The discrepancies between this model and the reality it claims to address are then attributed to particular imperfections in reality itself. Most heterodox economists seize on this fact and insist that the world is characterized by imperfect competition. But this only ties them to the notion of perfect competition, which remains as their point of departure and base of comparison. There is no imperfection without perfection. In Capitalism, Anwar Shaikh takes a different approach. He demonstrates that most of the central propositions of economic analysis can be derived without any reference to standard devices such as hyperrationality, optimization, perfect competition, perfect information, representative agents, or so-called rational expectations. This perspective allows him to look afresh at virtually all the elements of economic analysis: the laws of demand and supply, the determination of wage and profit rates, technological change, relative prices, interest rates, bond and equity prices, exchange rates, terms and balance of trade, growth, unemployment, inflation, and long booms culminating in recurrent general crises. In every case, Shaikh's innovative theory is applied to modern empirical patterns and contrasted with neoclassical, Keynesian, and Post-Keynesian approaches to the same issues. Shaikh's object of analysis is the economics of capitalism, and he explores the subject in this expansive light. This is how the classical economists, as well as Keynes and Kalecki, approached the issue. Anyone interested in capitalism and economics in general can gain a wealth of knowledge from this ground-breaking text.

A Modern Guide to Macroeconomics
A Modern Guide to Macroeconomics

Author: Brian Snowdon

Publisher: Edward Elgar Publishing

Published: 1994

Total Pages: 532

ISBN-13:

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This work provides up-to-date discussions of recent developments in modern macroeconomics; it also features interviews with leading economists that aim to shed new light on the major intellectual and policy issues of the 1990s.

Economic Thought History
Economic Thought History

Author: Fouad Sabry

Publisher: One Billion Knowledgeable

Published: 2024-02-12

Total Pages: 487

ISBN-13:

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What is Economic Thought History The history of economic thought is the study of the philosophies of the different thinkers and theories in the subjects that later became political economy and economics, from the ancient world to the present day in the 21st century. This field encompasses many disparate schools of economic thought. Ancient Greek writers such as the philosopher Aristotle examined ideas about the art of wealth acquisition, and questioned whether property is best left in private or public hands. In the Middle Ages, Thomas Aquinas argued that it was a moral obligation of businesses to sell goods at a just price. How you will benefit (I) Insights, and validations about the following topics: Chapter 1: History of economic thought Chapter 2: Economics Chapter 3: Keynesian economics Chapter 4: Macroeconomics Chapter 5: Post-Keynesian economics Chapter 6: Nicholas Kaldor Chapter 7: John Hicks Chapter 8: Classical economics Chapter 9: The General Theory of Employment, Interest and Money Chapter 10: Say's law Chapter 11: Quantity theory of money Chapter 12: Knut Wicksell Chapter 13: Edmund Phelps Chapter 14: Schools of economic thought Chapter 15: Neoclassical synthesis Chapter 16: Ancient economic thought Chapter 17: Keynesian Revolution Chapter 18: History of macroeconomic thought Chapter 19: Perspectives on capitalism by school of thought Chapter 20: Chartalism Chapter 21: Marxian economics (II) Answering the public top questions about economic thought history. (III) Real world examples for the usage of economic thought history in many fields. Who this book is for Professionals, undergraduate and graduate students, enthusiasts, hobbyists, and those who want to go beyond basic knowledge or information for any kind of Economic Thought History.