A Modern Guide to Economic Thoug

This book provides a comprehensive introduction to the main schools of contemporary economic thought, presenting the current state of each school in its own terms, indicating its raison d'etre, why each school thinks as it does and the questions to which it is trying to find answers. There is an introductory chapter on the philosophy and methodology of economics and separate chapters on the Austrian, Neoclassical, Chicago, Keynesian, Post Keynesian, Institutionalist/Evolutionary and Radical/Marxian schools each written by an economist with specialist knowledge of the particular school. The book explains in straightforward terms the ideologies, methodological practices, issues, assumptions, evidence and conclusions in a positive and constructive way. It concludes that there can be no single, definitive approach to the study of economics and that the schools of thought should be seen as complementary to each other. Summaries of each school are provided to allow readers to establish the principal features of each school.