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Schools of economics thought question..

  • 21-04-2010 3:59pm
    #1
    lopppy
    Registered Users Posts: 66 ✭✭


    Just doing an essay for college, I have to compare neoclassical, marxian and institutiona/ post keynesian but I don't really know how to compare them? Like i can explain each but not make comparisons?

    Would i be right in saying "unlike institutional and neoclassical eco, marxian eco poses a negative view of capitalism?!


    Thanks for any help


Comments

  • #2
    Time Magazine
    Registered Users, Registered Users 2 Posts: 8,452 ✭✭✭Time Magazine


    lopppy wrote: »
    Just doing an essay for college, I have to compare neoclassical, marxian and institutiona/ post keynesian but I don't really know how to compare them?
    Consider how each views all the different aspects of economic thought (the creation of value, consumer theory, state intervention) and then see how they differ.
    Like i can explain each but not make comparisons?
    That wouldn't be comparing them :)
    Would i be right in saying "unlike institutional and neoclassical eco, marxian eco poses a negative view of capitalism?!
    Well it wouldn't be wrong, but it'd be a pretty crappy answer tbh. You need to explain why Marxism has a negative view of "capitalism", not just state that it does. You'll need to explain (for example) why the neo-Classical school's take on consumer behaviour means it does not think a Marxist system would work, or at least why it would be inefficient. You'd need to say why Post-Keynesianism thinks interventionist monetary policy can be a good idea, and why typical neo-Classicalism doesn't.


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