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How far is Vienna from Chicago? An essay on the methodology of two schools of dogmatic liberalism

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  • Paqué, Karl-Heinz
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    Abstract

    From the 194O's until the late 196O's,the unchallenged ruler of the intellectual kingdom of economics was a paradigm which - for lack of a better name - we shall simply call mainstream economics. Broadly speaking, mainstream economics may be described as a well-composed menu of quite distinct analytical tool-boxes which are eclectically used to solve the relevant problems at hand: neoclassical theory in the microeconomic domain, keynesian theory in the macroeconomic domain, and paretian welfare theory in the domain of normative economics.

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    File URL: http://econstor.eu/bitstream/10419/46781/1/017809010.pdf
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    Bibliographic Info

    Paper provided by Kiel Institute for the World Economy in its series Kiel Working Papers with number 209.

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    Date of creation: 1984
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    Handle: RePEc:kie:kieliw:209

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    1. Boland, Lawrence A, 1979. "A Critique of Friedman's Critics," Journal of Economic Literature, American Economic Association, vol. 17(2), pages 503-22, June.
    2. Hoover, Kevin D, 1984. "Two Types of Monetarism," Journal of Economic Literature, American Economic Association, vol. 22(1), pages 58-76, March.
    3. Lucas, Robert E, Jr, 1980. "Methods and Problems in Business Cycle Theory," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 12(4), pages 696-715, November.
    4. Becker, Gary S, 1983. "A Theory of Competition among Pressure Groups for Political Influence," The Quarterly Journal of Economics, MIT Press, vol. 98(3), pages 371-400, August.
    5. Lucas, Robert E, Jr, 1978. "Unemployment Policy," American Economic Review, American Economic Association, vol. 68(2), pages 353-57, May.
    6. Israel M. Kirzner, 1962. "Rational Action and Economic Theory," Journal of Political Economy, University of Chicago Press, vol. 70, pages 380.
    7. Armen A. Alchian, 1950. "Uncertainty, Evolution, and Economic Theory," Journal of Political Economy, University of Chicago Press, vol. 58, pages 211.
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