Other Schools of Thought

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,

A noteworthy feature of Murray Rothbard's monumental history of economic thought is his vigorous denunciation of Adam Smith and the Wealth of Nations.

Paul A. Samuelson's legendary textbook, straightforwardly titled Economics, most famously exemplifies Samuelson the writer.

This article reviews and assesses the trilogy Castells entitles The Information Age: Society Economy, and Culture.  Despite the adulation and attention the books have drawn,