Question:

Schools of Economics?

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What are the known schools of economics? Schools of thought in economics that is.

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  1. Schools of economics have evolved in a variety of different directions in the academic field of economics. An economist is one who studies, develops, and applies theories and concepts from economics and writes about economic policy. While individuals often do not fit into particular schools, particularly in modern times, classifying economists into "schools" is often useful. Economic thought may be roughly divided into three phases: Premodern (Greek, Roman, Indian, Persian, Arab, and Chinese), Early modern (mercantilist, physiocrats) and Modern (since Adam Smith in the late 18th century). Systematic economic theory has been developed mainly since the beginning of what is termed the modern era. The classification of economic thought and writings are based on a host of factors like the differences in methods used, the conviction of the natural human tendencies as an economic agent, about the fairness of dustribution of value added through production processes, about the validity of concepts used for economic analysis and investigations. Currently, the great majority of economists follow an approach referred to by its adherents as "mainstream economics" or simply "economics" and by critics by terms such as "orthodox economics". Within the mainstream, there are competing views on various topics, particularly within macroeconomics, but no distinct schools of thought with well-defined membership.

    There are atleast the following known schools:

    1 Ancient economic thought

    2 Islamic economics

    3 Scholasticism

    4 Mercantilism

    5 Physiocrats

    6 Classical political economy

    7 French Liberal School

    8 German historical school

    9 English historical school

    10 French Historical School

    11 Utopian Economics

    12 Marxian Economics

    13 Non-Marxian Socialism

    14 Anarchist economics

    15 Distributism

    16 Institutional economics

    17 Neoclassical economics

    18 Lausanne School

    19 Austrian School

    20 Stockholm school

    21 Keynesian economics

    22 Chicago school

    23 Neo-Ricardianism

    For further readings, please visit:

    http://cepa.newschool.edu/het/thought.ht...

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