Main Schools of Contemporary Western Economics

Author: Fang Fuqian
Publisher:
Publish Date: 2004-12-01
Features: This book covers the theories, disagreements, and influences of major Western economic schools since the 20th century. Following the chronological order of the emergence of various schools, the book focuses on six mainstream Western economic schools: the classical school, Keynesianism, monetarism, new classical macroeconomics, supply-side economics, and new Keynesianism. In the past two decades, the three non-mainstream Western economic schools with the greatest global influence—new institutional economics, the public choice school (theory), and the Austrian school—are also included in this book. These six mainstream schools and three non-mainstream schools outline the main picture of the development of Western macroeconomics in the 20th century. From a dynamic and multi-dimensional perspective, the book describes the emergence, development, and relationships (disagreements and connections) among the major Western economic schools of the contemporary era, analyzing their characteristics and their impact on economic theory and practice. The book incorporates many of the author's own research findings and independent insights. It not only enriches readers' economic knowledge and enhances their theoretical level, especially deepening their understanding of macroeconomics, but also guides readers in grasping the development trends of contemporary Western economics and the economic policy directions of Western developed countries. The book is primarily based on primary sources. To ensure the authenticity of the content and the accuracy of the viewpoints, the book extensively uses citations, most of which are from English originals and original works. The book is mainly written for postgraduate students in economics and management disciplines in Chinese universities. Readers of this book are best advised to have systematically completed courses in Western microeconomics and macroeconomics. It is also suitable for senior undergraduate economics students and economics enthusiasts to use or read, with relatively advanced theoretical and mathematical content skipped.