Economic Schools of Thought: Labour Perspectives
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Overview6 Topics
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Background information10 Topics
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Endnotes
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References
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Interactive learningDeepen your knowledge2 Quizzes
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Training materialExercises2 Topics
Which economics school is better?
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Which economics school is better?
While it is true that some economic schools have become outdated or incomplete over time, there are no better or worse economic schools. Ultimately, the affinity with an economic school depends fundamentally on the ideas of the author. An economist is not better or worse because he belongs to a particular school of economics. Some schools emphasise institutions, some on monetary or fiscal policy, some on growth, inequality, and so on. Some schools clearly have an ideological component. That is, they prefer one type of society to another. The most important thing, always, is to encourage debate between currents of thought in an argued and grounded way.
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