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Feminist Economics is a broad field covering, broadly, how gender relates to the trade-offs involved in circumstances of scarcity. Economics as a field was dominated by men for a long time. As a result, the questions that were asked were artificially limited, as were the answers that came. Feminist Economics sets about correcting these historical gaps, and ...


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Post-Keynesian Post-Keynesianism (PK) is based on the criticism of the so called "Keynesianism", which according to PKs is not loyal to core Keynes ideas. As such, this school of thought aims to be called the "true" Keynesians. The criticism starts with the workhorse model of Keynesianism, the IS-LM model, developed by Hick in a 1937's article, right after ...


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Chang Ha-Joon distinguishes between 9 schools of thought. Here are his one-sentence summaries of each: Classical: The market keeps all producers alert through competition, so leave it alone. Neoclassical: Individuals know what they are doing, so leave them alone – except when markets malfunction. Marxist: Capitalism is a powerful vehicle for economic ...


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Complexity/Evolutionary Economics This approach to economics, widely inspired in Evolutionary Biology, is a direct criticism to Neoclassical Economics, as its key postulates indicate. These are: Economics are open, dynamic, non-linear systems far from equilibrium Agents have realistic rationality, as opposed to perfect rationality. This is, they use ...


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Snowdon and Vane "Modern Macroeconomics: Its Origins, Development And Current State" is probably the best book I have read which gives a clear exposition of all the major macroeoconomic schools from the classicals to the New Keynesians. It highlights what the different schools have contributed to modern macroeoconomics and compares them to the other schools. ...


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The Chicago School The Chicago School is a sub-school of the broader neoclassical school of economic thought, named for the significant influence of prominent scholars in Chicago. According to Wikipedia "The term was coined in the 1950s to refer to economists teaching in the Economics Department at the University of Chicago, and closely related academic ...


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There is a school of thought that says that people unconsciously use cost-benefit analyses in their relationships with other people. In this idea, people show kindness only because they anticipate getting rewarded for those acts, so it is in their own self-interest to do so. Monetizing small tasks takes time, and then collecting money for tasks done takes ...


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Theres a book called Models In Political Economy: A Guide To the Arguements by Michael Barratt Brown which provides a basic overview of the many economic schools of thought. There is a whole chapter which discusses this whole concept of feminist economics, however there is one section which helped me understand the point of view. " Charlottee Perkins ...


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Neoclassical Economics It is not-controversial to say that Neoclassical Economics is the dominant strand of economics within mainstream economics, not only in academia but also in teaching. Regarding this school of thought, this article states: It describes the synthesis of the subjective and objective theory of value in a diagram of supply and demand, ...


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A market economy is useful when we have different players with different goals. i.e the firms objective is profit maximisation and the the consumer's goal is utility maximisation. Each player must make a decision optimising against the others decision. In this sense each player faces the constraint placed by the other player. When there is freedom to ...


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Feminist Economics Unlike Neoclassical Economics, which focus is usually on scarcity, Feminist economics focuses on the issue of Power relations, particularly in relation to gender and family structure. For example, whilst a neoclassical economist would study the gender gap in terms of benefits and costs (e.g. cost of post-natal leave), a Feminist economist ...


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Marc Lavoie, page 265 of Post-Keynesian Economics: New Foundations: "In fact, the SFC approach is perhaps a misnomer, as several other theories relate stocks and flows in a consistent way. The peculiarity of the post-Keynesian SFC aporoach is that its models truly integrate the real and monetary sides." In other words, do not focus on the name "stock-flow ...


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In his 1974's Nobel Prize speech titled "The Pretense of Knowledge", Hayek presented a fierce attack on Keynesianism (which argued for an active government), whilst defending free markets. His view is centered on the idea that there is too much "local knowledge" which is available to individuals but not to governments. Markets can use ...


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