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Thread: Economic Schools/Systems - American School/National System

  1. #1
    Contributor Wayfarer's Avatar
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    10 Feb 10

    Economic Schools/Systems - American School/National System

    American School (economics) - Wikipedia, the free encyclopedia

    I was wondering if anyone had any more information on the American School.

    How did Keynesian economics come to supplant this, then the Austrian School?

    Is the American Schools idea inapplicable in a globalized world? Are Liberals(Libertarians/Free-Marketeers) here (old definition of a liberal) for or against such a system? Do you think that the practical application of this idea would go some way towards solving the U.S's economic malaise?

    I know very little about these apart from reading Wikipedia articles, so go easy.

    Also, on Neo-Keynesian economics.. what are some good critics of Neo-Keynesian economic models? Websites/blogs/news sources. I hear the uni-progressives who are networked well with my teachers constantly mention Krugman and Stiglitz.

  2. #2
    Join Date
    29 May 11
    The American school economic approach certainly worked in the 18th and 19th century.

    We just don't live in those centuries anymore.

    Increasingly world interdependence for resources and markets, too, makes our past semi-isolationism impractical.

    I'm not entirely sure I know what "neo-Keynesian" economics really means, so I'll refrain from responding.

    But I will submit that what our government is doing right now is NOT a terrible good example of what Keynesian econmic theory promoted as a solution to the deflationary cycle that we faced in '29 -41.

    Don't get so hung on on lables that your mind shuts down.

    The devil is always in the details.
    Last edited by editec; 29 May 11, at 16:43.

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