This was a difficult post to write, because I’m really in the process of exploring my basic beliefs of how economics and economic agents interact and operate – you could say this is an examination of my faith. So what will follow is a series of posts on schools of economic thought, from orthodox to heterodox, and I’m going to see where it takes me.
For starters I’ve been listening to a series of audiobooks, partly in an effort to expand my horizons, and partly because as Sun Tzu said:
Hence the saying: If you know the enemy and know yourself, you need not fear the result of a hundred battles.
If you know yourself but not the enemy, for every victory gained you will also suffer a defeat.
If you know neither the enemy nor yourself, you will succumb in every battle.
In this case, I am trying to find answers to the question (about economics): What do I believe? And why is that belief better, or worse, than what others believe? There are a number of distinct schools of thought in economics, with more or less highly divided views on how economies are organised and function, and in what the role should be of various institutions such as government and money.
Posts
