Alternative Schools of Economic Thought
Alternative Schools of Economic Thought. In James D. Wright, ed. International Encyclopedia of the Social and Behavioral Sciences, 2nd Edition, 2015, Oxford: Elsevier, Ltd., pp. 573-578
7 Pages Posted: 13 Dec 2015
Date Written: 2015
Alternative schools of economic thought are defined relative to the current mainstream of economic theory. This article examines the path of mainstream economics during the twentieth century and the challenges presented to the mainstream by various alternative schools of economic thinking, such as the desire for relevance of American institutional economics, the emphasis on market process and calculation given by Austrian economics, the role of gendered theorizing examined by feminist economics, and the treatment of uncertainty offered by post-Keynesian Economics.
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