Other Schools of Thought

This article argues that Murray Rothbard does indeed have scathing criticisms of Adam Smith in Rothbard's recent work on the history of economic thought.

The book distinguishes seven different schools of macroeconomic thought: orthodox Keynesianism, orthodox monetarism, the New Classical School, real business cycle theory, new Keynesianism, Post Keynesianism, and the Austrian School. 

Here we discuss briefly Mankiw’s ten principles of economics and offer a critique of these principles à la the Austrian School of economics.

This paper contrasts mainstream analysis of the recent boom/bust episode and its massive interventions with Austrian business cycle theory (ABCT). 

From Adam Smith's day to our own, economists have tended to treat the intertemporal trade-off as something quite different from other trade-offs that market participants face.

It is no wonder that the vast majority of Americans do not know whom, if anyone, they should believe regarding economic pronouncements.

Caplan arrives at the startling conclusion that the Austrian approach, despite the efforts, is less realistic than the neoclassical approach that flourished in the age of benign neglect for realism. 

Thomas Sowell is probably best known for his studies of ethnic relations and economics and for his policy oriented works, aimed at a wide popular audience, e.g., Conquests and Cultures: An International History (1998) and Basic Economics: A Citizen’s Guide to the Economy (2004). His  Knowledge and Decisions (1980), which earned the praise of F.A. Hayek, showed him to be a gifted theorist as well; and, in On Classical Economics , this versatile author makes a valuable contribution to the history of economics.

Short of state implosion, what those who wish to promote free markets most need is an unevasive, contemporary, socialist theory.  Cockshott and Cottrell have come as close to developing a serious,

Establishment economics is in a much deserved state of disarray.