20th Century and Evolution of the Economic Theory (Neoclassical School: Development of Macroeconomics. Non-orthodox Economic Schools)

Zoya Mladenova

Economic Thought journal, 2006, issue 2, 3-22

Abstract: The article continues a publication with the same title and outlines the development of the economic theory during the 20th century. The review of the evolution of the neoclassical school ends with the study on the emergence and development of modern macroeconomics. Special attention is put on the newest trends in macroeconomics from the last quarter of the 20th century. The non-orthodox economic schools - institutionalism and marxism and their evolution during the century are studied. It is pointed out that although at the end of the century the pluralism of economic ideas is preserved, there is a clear trend of growing interaction and infiltration among the main theoretical schools, which will have an important influence on the nature of the economic theory in the future.

JEL-codes: B22 B24 B25 (search for similar items in EconPapers)
Date: 2006
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Persistent link: https://EconPapers.repec.org/RePEc:bas:econth:y:2006:i:2:p:3-22

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