schools of economic thought
September 22, 2012 10:37 PM Subscribe
Need to get up to speed on Keynesian, monetarist, Austrian, and other influential schools of economic theory
posted by swimmingly to society & culture (3 answers total) 10 users marked this as a favorite
I've taken economics 101 and read Smith and Marx in college. But beyond that, my knowledge of economic thought is sorely lacking.
Tried to read Keynes' General Theory, but am going through it a little too slowly. Have also looked at reading lists for postgraduate courses in economic history, but I don't think I have a solid enough background to be able to grasp journal articles.
Could you recommend a minimal set of books that covers:
1. the core principles of the various influential schools,
2. what reasoning/evidence they base their arguments on,
3. how they are related to each other, and
4. which of their important contributions/concepts/terms have entered the canon. e.g. liquidity trap?
Basically, I am hoping to learn enough to be able to evaluate and compare how the different theorists would interpret current economic developments.
Charts and diagrams are fine. Text that doesn't try to be breezy or witty is good too.
I've seen recs for Heilbroner's Worldly Philosophers and Buchholz's New Ideas, but both seem to have a bit of a biographical slant according to reviews, the former more so than the latter. For efficiency I'm interested in biographical anecdotes only insofar as it relates to point (2) above.
Is it possible to find anything close to what I'm looking for, or do I have to stick to Wikipedia and Investopedia?
Thanks a lot for your help!