A Search for Synthesis in Economic Theory
- ISBN-10
- 1315495074
- ISBN-13
- 9781315495071
- Category
- Business & Economics
- Pages
- 285
- Language
- English
- Published
- 2019-09-25
- Publisher
- Routledge
- Authors
- Ching-Yao Hsieh, Stephen L. Mangum, S.L. Magnum
Description
First published in 1986. Since the late 1960s the seeming inability of traditional monetary and fiscal policies to combat " stagflation" and address other macroeconomic issues has accelerated the erosion of confidence in the prevailing economic paradigm , the " neoclassical synthesis." * Dissensions among the members of the economics profession on both sides of the Atlantic have grown in number. By the 1970s, a majority of economists had recognized a " crisis" in economic theory. Parallel to this development, a crisis has also emerged in the Marxian camp. This volume is a discussion from the various schools of thought around three of the salient common grounds follows: the theory of a monetary economy, the disequilibrium foundations of a general equilibrium theory, and a rekindled interest in institutional factors.
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