school of economic thought oor Masedonies

school of economic thought

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group of economic thinkers who share or shared a common perspective on the way economies work
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The classical school of economic thought emerged in Britain in the late 18th century.
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Mercantilism was the dominant school of economic thought throughout the early modern period (from the 16th to the 18th century).
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Once the main school of economic thought in the United States, institutional economics holds that capitalism cannot be separated from the political and social system within which it is embedded.
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One survey of German economists found that ecological and environmental economics are different schools of economic thought, with ecological economists emphasizing "strong" sustainability and rejecting the proposition that natural capital can be substituted by human-made capital.
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In economics, the university has played an important role in shaping ideas about the free market and is the namesake of the Chicago school of economics, the school of economic thought supported by Milton Friedman and other economists.
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Edgeworth devoted considerable effort to insisting that mathematical proofs were appropriate for all schools of thought in economics.
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Articles by Inge Ropke (2004, 2005) and Clive Spash (1999) cover the development and modern history of ecological economics and explain its differentiation from resource and environmental economics, as well as some of the controversy between American and European schools of thought.
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However, in more recent years, since the end of the Bretton Woods system in 1971, with the increasing influence of Monetarist schools of thought in the 1980s, and particularly in the face of large sustained trade imbalances, these concerns – and particularly concerns about the destabilising effects of large trade surpluses – have largely disappeared from mainstream economics discourse and Keynes' insights have slipped from view.
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