Schools of Economic Thought

How many different schools of thought exist in Economics?

Over thirty, and well, given the admirable innovativeness of researchers, we are still counting.

The following list attempts to mention most schools that we assume are relevant (we are leaving out very very old and obscure ones):

  1. Classical Political Economy
  2. American
  3. French Liberal
  4. German Historical
  5. French Historical
  6. Utopian
  7. Marxian
  8. State Socialism
  9. Ricardian
  10. Anarchist
  11. Institutional and New Institutional
  12. Neo Classical (called Orthodox these days)
  13. Austrian
  14. Stockholm
  15. Keynesian
  16. Chicago
  17. Carnegie
  18. Regulation
  19. Neo Ricardian
  20. Post Keynesian
  21. New Keynesian
  22. New Classical Macroeconomics
  23. Evolutionary
  24. Non-equilibrium

Which one do you find the most reasonable and least absurd?


2 Comments on “Schools of Economic Thought”

  1. Alex says:

    Ruhi,
    I would suggest 2 more schools to this broad list: Post-Keynesian economics and Regulation school.Also, I doubt whether ‘Heterodoxy’ can be considered a school in economics.
    Alex


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