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.


Book Synopsis Competing Schools of Economic Thought by : Lefteris Tsoulfidis

Download or read book Competing Schools of Economic Thought written by Lefteris Tsoulfidis and published by Springer Science & Business Media. This book was released on 2010-06-29 with total page 389 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.

Competing Schools of Economic Thought

Competing Schools of Economic Thought

Author: Lefteris Tsoulfidis

Publisher: Springer

Published: 2014-11-21

Total Pages: 0

ISBN-13: 9783642448867

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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.


Book Synopsis Competing Schools of Economic Thought by : Lefteris Tsoulfidis

Download or read book Competing Schools of Economic Thought written by Lefteris Tsoulfidis and published by Springer. This book was released on 2014-11-21 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.

Competing Schools of Economic Thought

Competing Schools of Economic Thought

Author: Lefteris Tsoulfidis

Publisher: Springer

Published: 2010-07-23

Total Pages: 416

ISBN-13: 9783540926924

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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.


Book Synopsis Competing Schools of Economic Thought by : Lefteris Tsoulfidis

Download or read book Competing Schools of Economic Thought written by Lefteris Tsoulfidis and published by Springer. This book was released on 2010-07-23 with total page 416 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.


Book Synopsis Economic Thought Schools by : Fouad Sabry

Download or read book Economic Thought Schools written by Fouad Sabry and published by One Billion Knowledgeable. This book was released on 2023-12-23 with total page 332 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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."


Book Synopsis Competing Schools of Economic Thought by : Lefteris Tsoulfidis

Download or read book Competing Schools of Economic Thought written by Lefteris Tsoulfidis and published by Springer. This book was released on 2024-07-08 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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."

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.


Book Synopsis Contending Economic Theories by : Richard D. Wolff

Download or read book Contending Economic Theories written by Richard D. Wolff and published by MIT Press. This book was released on 2012-09-07 with total page 425 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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: 896

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.


Book Synopsis Capitalism by : Anwar Shaikh

Download or read book Capitalism written by Anwar Shaikh and published by Oxford University Press. This book was released on 2016-01-15 with total page 896 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.

Reinterpreting Mr. Keynes

Reinterpreting Mr. Keynes

Author: Warren Young

Publisher: Springer Nature

Published: 2022-01-19

Total Pages: 168

ISBN-13: 3030913422

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This book examines the origins of the IS-LM model, one of the most significant innovations in the history of economic thought. It shows that the complete IS-LM model, including the equations and diagram, was produced by a group of economists who contributed their respective mathematical models of Keynes’s General Theory, including Champernowne, Reddaway, Harrod, and Meade, not to mention Hicks. Furthermore, the book discusses the implications of newly discovered archival material, including a previously overlooked document showing that John Maynard Keynes himself was the first to present the IS-LM model equations in a lecture he gave on December 4, 1933. It focuses on the implications of this material in terms of understanding the evolution of Keynes’s approach from 1933 to 1937, later interpreters of his General Theory, and the ongoing debate between Keynesians and Post-Keynesians on the nature of his system. Given the revelations it presents, this book will transform the profession’s understanding of the origins of the IS-LM model and modern macroeconomics.


Book Synopsis Reinterpreting Mr. Keynes by : Warren Young

Download or read book Reinterpreting Mr. Keynes written by Warren Young and published by Springer Nature. This book was released on 2022-01-19 with total page 168 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book examines the origins of the IS-LM model, one of the most significant innovations in the history of economic thought. It shows that the complete IS-LM model, including the equations and diagram, was produced by a group of economists who contributed their respective mathematical models of Keynes’s General Theory, including Champernowne, Reddaway, Harrod, and Meade, not to mention Hicks. Furthermore, the book discusses the implications of newly discovered archival material, including a previously overlooked document showing that John Maynard Keynes himself was the first to present the IS-LM model equations in a lecture he gave on December 4, 1933. It focuses on the implications of this material in terms of understanding the evolution of Keynes’s approach from 1933 to 1937, later interpreters of his General Theory, and the ongoing debate between Keynesians and Post-Keynesians on the nature of his system. Given the revelations it presents, this book will transform the profession’s understanding of the origins of the IS-LM model and modern macroeconomics.

Handbook on the History of Economic Analysis Volume II

Handbook on the History of Economic Analysis Volume II

Author: Gilbert Faccarello

Publisher: Edward Elgar Publishing

Published: 2016-07-27

Total Pages: 488

ISBN-13: 1785367366

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This unique troika of Handbooks provides indispensable coverage of the history of economic analysis. Edited by two of the foremost academics in the field, the volumes gather together insightful and original contributions from scholars across the world. The encyclopaedic breadth and scope of the original entries will make these Handbooks an invaluable source of knowledge for all serious students and scholars of the history of economic thought.


Book Synopsis Handbook on the History of Economic Analysis Volume II by : Gilbert Faccarello

Download or read book Handbook on the History of Economic Analysis Volume II written by Gilbert Faccarello and published by Edward Elgar Publishing. This book was released on 2016-07-27 with total page 488 pages. Available in PDF, EPUB and Kindle. Book excerpt: This unique troika of Handbooks provides indispensable coverage of the history of economic analysis. Edited by two of the foremost academics in the field, the volumes gather together insightful and original contributions from scholars across the world. The encyclopaedic breadth and scope of the original entries will make these Handbooks an invaluable source of knowledge for all serious students and scholars of the history of economic thought.

Development of Economic Analysis

Development of Economic Analysis

Author: Ingrid H. Rima

Publisher: Routledge

Published: 2012-10-12

Total Pages: 681

ISBN-13: 1134570600

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This is the sixth edition of a textbook that has been instrumental in introducing a generation of students to the history of economic thought. It charts the development of economics from its establishment as an analytical discipline in the eighteenth century through to the late twentieth century. The book discusses the work of, amongst others: Ricardo, Malthus, Marx, Walras, Marshall and Keynes as well as the institutionalists, the Chicago School and the emergence of econometrics. This edition has been fully revised and updated and includes: * chronologies of the key dates in the development of economics * extracts from original texts * an examination of how the study of the history of economic thought impinges upon modern thinking.


Book Synopsis Development of Economic Analysis by : Ingrid H. Rima

Download or read book Development of Economic Analysis written by Ingrid H. Rima and published by Routledge. This book was released on 2012-10-12 with total page 681 pages. Available in PDF, EPUB and Kindle. Book excerpt: This is the sixth edition of a textbook that has been instrumental in introducing a generation of students to the history of economic thought. It charts the development of economics from its establishment as an analytical discipline in the eighteenth century through to the late twentieth century. The book discusses the work of, amongst others: Ricardo, Malthus, Marx, Walras, Marshall and Keynes as well as the institutionalists, the Chicago School and the emergence of econometrics. This edition has been fully revised and updated and includes: * chronologies of the key dates in the development of economics * extracts from original texts * an examination of how the study of the history of economic thought impinges upon modern thinking.