Meta tags:

Headings (most frequently used words):

selected, portal, economics, introduction, general, articles, did, you, know, need, help, get, involved, images, in, the, news, subcategories, subtopics, associated, wikimedia,

Text of the page (most frequently used words):
the (247), and (158), economics (99), #economic (80), that (57), from (42), image (42), theory (33), with (31), article (31), economy (28), full (26), school (24), thought (19), for (18), such (17), this (16), has (16), economists (15), are (14), which (14), portal (13), production (13), was (12), growth (12), their (12), new (11), classical (11), history (11), macroeconomics (11), wikipedia (10), keynesian (10), behavioral (10), social (10), development (10), century (10), schools (9), neo (9), resources (9), not (9), market (9), demand (9), other (9), policy (8), portals (8), free (8), more (8), austrian (8), national (8), labour (8), while (8), smith (8), can (8), but (8), been (8), also (8), primarily (8), these (8), population (8), malthusian (8), may (7), supply (7), marginalism (7), historical (7), modern (7), heterodox (7), mainstream (7), econometrics (7), based (7), marginal (7), 2026 (7), markets (7), study (7), including (7), how (7), related (7), they (7), system (7), economies (7), agents (7), approach (7), utility (7), view (6), page (6), september (6), what (6), business (6), neoclassical (6), evolutionary (6), political (6), attention (6), public (6), price (6), philosophy (6), models (6), would (6), have (6), macroeconomic (6), adam (6), equilibrium (6), who (6), policies (6), into (6), aggregate (6), analysis (6), methods (6), inflation (6), elements (6), known (6), concept (6), factors (6), statistical (6), about (5), using (5), non (5), use (5), list (5), tools (5), stockholm (5), mixed (5), monetary (5), information (5), complexity (5), microeconomics (5), time (5), data (5), trade (5), crisis (5), impact (5), capital (5), income (5), basic (5), model (5), publication (5), decisions (5), between (5), john (5), keynes (5), main (5), work (5), marxist (5), water (5), involved (5), help (5), when (5), its (5), general (5), both (5), marxism (5), uses (5), some (5), interactions (5), government (5), especially (5), actions (5), early (5), well (5), trap (5), search (4), you (4), links (4), content (4), mutualism (4), malthusianism (4), ecological (4), management (4), institutions (4), environmental (4), applied (4), decision (4), theoretical (4), theories (4), take (4), afp (4), most (4), unemployment (4), war (4), japan (4), french (4), through (4), exchange (4), others (4), countries (4), product (4), consumption (4), those (4), increase (4), maynard (4), goods (4), within (4), economist (4), individual (4), states (4), according (4), principles (4), bank (4), mutual (4), workers (4), eventually (4), robert (4), society (4), self (4), value (4), phenomena (4), level (4), field (4), relationships (4), typically (4), 20th (4), framework (4), rather (4), than (4), various (4), beginning (4), rationality (4), systems (4), services (4), greater (4), central (4), role (4), 19th (4), malthus (4), swedish (4), particular (4), argue (4), private (4), human (4), poverty (4), enterprise (4), edit (4), topic (3), language (3), statistics (3), terms (3), wikimedia (3), automated (3), articles (3), one (3), named (3), all (3), associated (3), publications (3), lists (3), institutional (3), cycle (3), mercantilism (3), marxian (3), post (3), american (3), choice (3), infrastructure (3), computational (3), finance (3), concepts (3), laws (3), per (3), capita (3), gdp (3), proposed (3), swiss (3), over (3), investment (3), after (3), example (3), during (3), natural (3), considered (3), first (3), wealth (3), prices (3), occur (3), traditional (3), describes (3), point (3), late (3), europe (3), get (3), back (3), people (3), high (3), advocates (3), could (3), developed (3), community (3), united (3), although (3), were (3), labor (3), socialism (3), interest (3), property (3), includes (3), focused (3), given (3), significantly (3), firms (3), outcomes (3), output (3), different (3), term (3), defined (3), prominent (3), current (3), approaches (3), many (3), application (3), common (3), does (3), special (3), science (3), three (3), mid (3), process (3), emphasizes (3), emerged (3), had (3), processes (3), learn (3), total (3), fundamental (3), organized (3), thomas (3), refers (3), important (3), world (3), sometimes (3), generally (3), often (3), individuals (3), von (3), applies (3), due (3), possible (3), food (3), since (3), insights (3), microeconomic (3), thermoeconomics (3), used (3), econometric (3), germany (3), read (3), hide (3), move (3), sidebar (3), contact (2), privacy (2), under (2), additional (2), profit (2), organization (2), foundation (2), commons (2), categories (2), slideshow (2), single (2), wikiproject (2), index (2), purge (2), pages (2), collection (2), knowledge (2), wikidata (2), following (2), projects (2), category (2), socialist (2), real (2), happiness (2), critique (2), chicago (2), regional (2), sector (2), health (2), financial (2), empirical (2), mathematical (2), works (2), subcategories (2), amid (2), country (2), fund (2), via (2), afghanistan (2), medical (2), students (2), pakistan (2), relations (2), among (2), working (2), gaza (2), reject (2), family (2), minister (2), turkish (2), described (2), scientific (2), research (2), chinese (2), 2022 (2), included (2), waste (2), money (2), together (2), buyers (2), sellers (2), electronic (2), trading (2), 1776 (2), nations (2), simple (2), pollution (2), gross (2), domestic (2), result (2), availability (2), resulting (2), comes (2), german (2), karl (2), marx (2), selected (2), see (2), reference (2), find (2), japanese (2), show (2), encourage (2), own (2), banks (2), exploitation (2), being (2), mutualists (2), establishment (2), creating (2), anarchist (2), order (2), establish (2), credit (2), his (2), attempts (2), state (2), joseph (2), land (2), ownership (2), means (2), control (2), making (2), whole (2), macroeconomists (2), understand (2), variables (2), two (2), focus (2), differences (2), global (2), households (2), types (2), perceived (2), there (2), contrast (2), place (2), groups (2), include (2), originated (2), extend (2), broader (2), sense (2), understanding (2), theorists (2), marxists (2), historically (2), orthodox (2), status (2), inequality (2), max (2), weber (2), problems (2), complex (2), existed (2), actual (2), until (2), productive (2), targeted (2), inspired (2), strict (2), treats (2), change (2), qualitative (2), recent (2), 21st (2), part (2), itself (2), either (2), focuses (2), interdependencies (2), turn (2), contribute (2), why (2), diamonds (2), diamond (2), tradition (2), rates (2), british (2), carl (2), menger (2), physical (2), 18th (2), thinkers (2), held (2), any (2), nation (2), group (2), active (2), years (2), knut (2), wicksell (2), influenced (2), massive (2), too (2), further (2), taken (2), recessions (2), opposed (2), referred (2), friedrich (2), methodological (2), give (2), scarce (2), living (2), called (2), thereby (2), competition (2), major (2), extreme (2), catastrophe (2), compared (2), variety (2), always (2), out (2), similar (2), developing (2), revolution (2), famine (2), linear (2), cognitive (2), affective (2), deviate (2), implied (2), concerned (2), integrate (2), psychology (2), neuroscience (2), bounds (2), psychological (2), studies (2), sciences (2), biophysical (2), foundations (2), ones (2), perspective (2), era (2), combination (2), topics (2), technology (2), events (2), culture (2), quantitative (2), longer (2), industrialization (2), planned (2), analyses (2), distribution (2), random (2), editing (2), maintenance (2), here (2), appearance (2), upload (2), file (2), changes (2), log (2), create (2), account (2), donate (2), menu (2), add, mobile, cookie, statement, developers, code, conduct, legal, safety, contacts, disclaimers, text, available, apply, site, agree, registered, trademark, inc, creative, attribution, sharealike, license, rendered, parsoid, last, edited, 2024, utc, hidden, needing, placement, incoming, 100, built, solely, template, maintainer, retrieved, https, org, php, title, oldid, 1246166601, server, cache, sub, dictionary, thesaurus, wiktionary, learning, wikiversity, library, wikisource, quotations, wikiquote, base, textbooks, manuals, wikibooks, media, repository, sister, provide, subject, outline, journals, glossary, thermo, side, physiocracy, lausanne, circuitism, synthesis, humanistic, georgism, freiwirtschaft, feminist, disequilibrium, democratic, chartalism, buddhist, ancient, welfare, urban, transport, service, rural, regulatory, planning, personnel, participation, law, geographic, engineering, education, demographic, cultural, agriculture, experimental, pluralism, agent, mechanism, design, contract, game, subtopics, stubs, taxonomy, puzzles, paradoxes, neologisms, indigenous, eponyms, effects, curves, consulting, catchphrases, profession, organizations, subfields, select, puzzle, ratifies, agreement, billion, loan, deep, threatening, renewed, protests, response, unions, international, senate, bolivia, orders, enrolled, leave, return, dozens, challenge, directive, judge, temporarily, suspends, expulsions, france, punjab, lahore, court, colleges, dental, programs, afghan, regulator, reports, experiencing, severe, record, establishments, damaged, destroyed, daily, exceeding, age, residents, voters, initiative, enshrine, stricter, form, prevented, imposing, cooperating, reuters, nato, sanctions, switzerland, neutrality, referendums, former, resigns, her, positions, ruling, scrutiny, alleged, scandal, prompted, 131, funds, led, arrests, liquidate, board, justice, party, fatma, betül, sayan, kaya, leaves, repeatedly, ordered, halt, unauthorized, surveys, near, cna, okinawa, prefecture, ishigaki, island, coast, guard, exclusive, zone, vessel, china, october, news, median, illustration, illustrative, points, marked, possibility, frontier, rate, 1990, 1638, painting, seaport, heyday, generation, greenhouse, gases, circulation, network, brings, platform, brazil, são, paulo, stock, formalisation, failure, borne, producers, environment, accident, victims, then, distorted, costs, ppp, april, marketplace, vary, balance, graph, depicts, quantity, required, reach, curve, father, map, showing, medieval, routes, philosopher, sampling, scientist, milton, friedman, images, editor, collaborate, editors, improving, consider, asking, desk, question, answer, need, adapted, lengthy, period, stagnation, aimed, entrepreneurship, shark, tank, renaissance, man, kerry, pandemic, began, instructed, indonesian, spanish, flu, formulate, unconventional, masyita, crystallin, covid, robbing, lebanese, covers, communist, gay, pornography, eastern, 1998, documentary, teacher, before, candidate, parliament, abdelkader, lahmar, did, know, made, proponents, oppose, forms, nominal, relying, seek, construct, without, propose, supported, issuance, aim, roots, practical, expression, experiments, established, formulated, comprehensive, abolition, creation, issue, replace, foiled, 1851, coup, état, reciprocity, unequal, pierre, proudhon, notes, equitable, commerce, josiah, warren, charles, fourier, owen, utopian, federal, concentration, accumulation, rent, occupation, rights, cooperatives, sole, proprietorships, artisans, branch, deals, performance, structure, behavior, measures, questions, relation, long, run, large, scale, differ, microeconomists, smaller, consumers, divide, institutionalized, fields, saving, takes, big, picture, entire, examining, roles, governments, broad, relative, referring, commonly, belonging, absolute, definition, constitutes, influential, popular, classed, discourse, chartalist, tree, amend, incorporating, intellectual, traditions, adds, prefix, designated, attempted, supplement, deficiencies, members, psychologists, sociologists, frankfurt, herbert, marcuse, dialectical, materialism, power, sociological, left, existentialism, psychoanalysis, critical, relaxes, several, assumptions, existence, features, sees, equilibria, case, emergent, primary, represents, yet, constructs, politics, 1790s, 1970s, waxing, waning, degrees, details, implementation, historian, coherent, logical, conceptual, ideas, dominated, closely, seen, contrary, consisted, core, promote, enterprises, speculation, investments, transportation, internal, improvements, protecting, industry, selective, tariffs, 1861, 1932, civil, michael, lind, set, uniting, drivers, evolution, support, decades, seems, initially, criticism, become, characteristics, objects, maker, fixed, transform, implications, considering, feedback, emerge, diverse, experience, whose, bounded, limited, evolving, innovation, structural, organisational, biology, explain, discrepancy, secondary, reason, higher, owes, satisfaction, thus, marginalists, drew, upon, idea, explanation, came, resolving, propounded, distinguishing, abandoned, gave, integral, substitution, paradox, leon, walras, william, stanley, jevons, cost, productivity, alfred, marshall, flourished, produced, largely, regulating, governed, famously, captured, metaphor, usually, mark, message, book, determined, gold, monarch, coffers, inhabitants, efficiently, accumulated, became, division, invisible, hand, stuart, mill, david, ricardo, jean, baptiste, say, ricardian, smithian, britain, loosely, worked, sweden, 1930s, come, same, conclusions, like, twentieth, stockholmsskolan, source, inspiration, reasons, might, regarded, influence, teaching, breakthrough, changed, creator, created, spending, strongly, influences, necessarily, equal, host, behave, erratically, employment, volatile, unstable, consequently, experiences, inefficient, low, fluctuations, mitigated, responses, coordinated, stabilize, advocate, regulated, predominantly, intervention, depressions, fiscal, capacity, keynesianism, zee, kayn, adherence, motivations, along, hold, should, exclusively, derived, axioms, action, 1871, methodologically, dispute, methodology, quarrel, day, located, still, contributions, formulation, calculation, problem, subjective, methodenstreit, wieser, eugen, böhm, bawerk, vienna, praxeology, individualism, incentives, driven, companies, maximize, users, commodity, solve, advertising, potentially, exponential, reduces, standards, triggering, event, predicted, agricultural, causing, will, goes, fierce, dwindling, increased, causes, decreasing, asset, keep, increasing, likely, cause, outcome, posits, force, correct, lower, easily, sustainable, quite, rapidly, potential, severity, unpredictable, results, mitigating, relatively, slow, scales, understood, governing, unchecked, affected, preventive, checks, linked, movements, almost, derive, reverend, laid, 1798, writings, suggested, technological, advances, improve, abundance, enable, bring, each, person, original, contend, mankind, broken, continuation, indicates, continues, operate, lack, coupled, excessive, evidence, overpopulation, industrial, standard, essay, principle, societal, collapse, unrest, birth, depopulation, commodities, assets, outpaces, crunch, snatch, check, decline, whom, subfield, extenuating, ways, societies, procure, energy, biological, produce, distribute, consume, generating, impacts, builds, overcome, limitations, blind, spots, conventional, makes, key, requirements, conditions, constraints, boundaries, econophysics, mechanics, thermodynamics, bioeconomics, importance, generate, earlier, imperfect, stickiness, microfoundations, rational, expectations, share, shared, way, function, fit, particularly, classifying, roughly, divided, phases, premodern, systematic, termed, currently, vast, majority, follow, specialize, broadly, scope, specific, actors, engels, physiocrats, mercantilist, imperial, islamic, persian, indian, greco, roman, conducted, situations, encompass, wide, equality, historicizing, analyzing, dynamic, entity, providing, structured, conceived, historians, emphasize, context, dynamics, scholars, discipline, sources, 1400, 2003, region, local, improved, goals, objectives, frequently, centuries, west, far, discussing, 1960s, increasingly, reduction, modernization, quality, life, precisely, concurrent, observation, appropriate, inference, introductory, textbook, allowing, sift, mountains, extract, founding, fathers, coined, today, tool, evaluate, develop, econometricians, try, desirable, properties, assessing, analysing, forecasting, consistency, efficiency, unbiasedness, estimators, multiple, regression, ragnar, frisch, jan, tinbergen, academic, sway, professors, compiled, histories, numerous, americans, leaders, 1838, 1917, 1864, 1920, 1883, 1950, austria, schumpeter, gustav, schmoller, administration, specifically, variously, blending, transitionary, phase, allows, substantial, contracting, dominant, reformed, incorporate, allocation, soviet, type, reformist, interventionism, nationalized, businesses, capitalism, refresh, selections, below, behaviour, viewed, where, interact, affecting, them, seeks, analyse, describe, expenditure, savings, euro, coins, introduction, religion, nature, mathematics, geography, activities, please, update, software, care, needed, subpages, layout, december, 2018, encyclopedia, item, printable, version, download, pdf, print, export, switch, legacy, parser, shortened, url, permanent, link, english, talk, العربية, personal, contents, navigation, jump,

Text of the page (random words):
o schools of thought is common economic thought may be roughly divided into three phases premodern greco roman indian persian islamic and imperial chinese early modern mercantilist physiocrats and modern beginning with adam smith and classical economics in the late 18th century and karl marx and friedrich engels marxian economics in the mid 19th century systematic economic theory has been developed primarily since the beginning of what is termed the modern era currently the vast majority of economists follow an approach known as mainstream economics sometimes called orthodox economics economists generally specialize into either macroeconomics broadly on the general scope of the economy as a whole or microeconomics on specific markets or actors full article image 8 new classical macroeconomics is a school of thought in macroeconomics based on a neoclassical framework it emphasizes the importance of foundations based on microeconomics especially rational expectations new classical macroeconomics uses neoclassical microeconomic foundations for macroeconomic analysis this is in contrast with the new keynesian school that uses microfoundations such as price stickiness and imperfect competition to generate macroeconomic models similar to earlier keynesian ones full article image 9 thermoeconomics also referred to as bioeconomics or biophysical economics is a school of heterodox economics that applies the laws of thermodynamics to economic theory thermoeconomics applies statistical mechanics to economic value it is a subfield of econophysics extenuating to ecological economics thermoeconomics studies the ways and means by which human societies procure and use energy and other biological and physical resources to produce distribute consume and exchange goods and services while generating various types of waste and environmental impacts biophysical economics builds on both social sciences and natural sciences to overcome some of the most fundamental limitations and blind spots of conventional economics it makes it possible to understand some key requirements and framework conditions for economic growth as well as related constraints and boundaries full article image 10 behavioral economics is the study of the psychological e g cognitive behavioral affective social factors involved in the decisions of individuals or institutions and how these decisions deviate from those implied by traditional economic theory behavioral economics is primarily concerned with the bounds of rationality of economic agents behavioral models typically integrate insights from psychology neuroscience and microeconomic theory full article image 11 thomas robert malthus after whom malthusianism is named malthusianism is a theory that population growth is potentially exponential according to the malthusian growth model while the growth of the food supply or other resources is linear which eventually reduces living standards to the point of triggering a population decline this event called a malthusian catastrophe also known as a malthusian trap population trap malthusian check malthusian snatch malthusian crisis point of crisis or malthusian crunch has been predicted to occur if population growth outpaces agricultural production thereby causing famine or war according to this theory poverty and inequality will increase as the price of assets and scarce commodities goes up due to fierce competition for these dwindling resources this increased level of poverty eventually causes depopulation by decreasing birth rates if asset prices keep increasing social unrest would occur which would likely cause a major war revolution or a famine societal collapse is an extreme but possible outcome from this process the theory posits that such a catastrophe would force the population to correct back to a lower more easily sustainable level quite rapidly due to the potential severity and unpredictable results of the mitigating factors involved as compared to the relatively slow time scales and well understood processes governing unchecked growth or growth affected by preventive checks malthusianism has been linked to a variety of political and social movements but almost always refers to advocates of population control these concepts derive from the political and economic thought of the reverend thomas robert malthus as laid out in his 1798 writings an essay on the principle of population malthus suggested that while technological advances could increase a society s supply of resources such as food and thereby improve the standard of living the abundance of resources would enable population growth which would eventually bring the supply of resources for each person back to its original level some economists contend that since the industrial revolution in the early 19th century mankind has broken out of the trap others argue that the continuation of extreme poverty indicates that the malthusian trap continues to operate others further argue that due to lack of food availability coupled with excessive pollution developing countries show more evidence of the trap as compared to developed countries a similar more modern concept is that of human overpopulation full article image 12 the attention economy refers to the incentives of advertising driven companies in particular to maximize the time and attention their users give to their product attention economics is an approach to the management of information that treats human attention as a scarce commodity and applies economic theory to solve various information management problems full article image 13 the austrian school of economics is a heterodox school of economic thought that advocates strict adherence to methodological individualism the concept that social phenomena result primarily from the motivations and actions of individuals along with their self interest austrian school theorists hold that economic theory should be exclusively derived from basic axioms of human action known as praxeology rather than primarily from statistical analysis the austrian school originated in 1871 in vienna with the work of carl menger eugen von böhm bawerk friedrich von wieser and others it was methodologically opposed to the historical school in a dispute known as methodenstreit or methodology quarrel current day economists working in this tradition are located in many countries but their work is still referred to as austrian economics among the theoretical contributions of the early years of the austrian school are the subjective theory of value marginalism in price theory and the formulation of the economic calculation problem full article image 14 keynesian economics ˈ k eɪ n z i ə n kayn zee ən sometimes keynesianism named after british economist john maynard keynes are the various macroeconomic theories and models of how aggregate demand total spending in the economy strongly influences economic output and inflation in the keynesian view aggregate demand does not necessarily equal the productive capacity of the economy it is influenced by a host of factors that sometimes behave erratically and impact production employment and inflation keynesian economists generally argue that aggregate demand is volatile and unstable and that consequently a market economy often experiences inefficient macroeconomic outcomes including recessions when demand is too low and inflation when demand is too high further they argue that these economic fluctuations can be mitigated by economic policy responses coordinated between a government and their central bank in particular fiscal policy actions taken by the government and monetary policy actions taken by the central bank can help stabilize economic output inflation and unemployment over the business cycle keynesian economists generally advocate a regulated market economy predominantly private sector but with an active role for government intervention during recessions and depressions full article image 15 this is a list of important publications in economics organized by field some basic reasons why a particular publication might be regarded as important topic creator a publication that created a new topic breakthrough a publication that changed scientific knowledge significantly influence a publication which has significantly influenced the world or has had a massive impact on the teaching of economics full article image 16 knut wicksell swedish economist important source of inspiration for john maynard keynes and the stockholm school the stockholm school swedish stockholmsskolan is a school of economic thought it refers to a loosely organized group of swedish economists that worked together in stockholm sweden primarily in the 1930s the stockholm school had come to the same conclusions about theories of demand and supply as john maynard keynes like keynes they were inspired by the works of knut wicksell a swedish economist active in the early years of the twentieth century full article image 17 classical economics also known as the classical school of economics or classical political economy is a school of thought in political economy that flourished primarily in britain in the late 18th and early to mid 19th century it includes both the smithian and ricardian schools its main thinkers are held to be adam smith jean baptiste say david ricardo thomas robert malthus and john stuart mill these economists produced a theory of market economies as largely self regulating systems governed by natural laws of production and exchange famously captured by adam smith s metaphor of the invisible hand adam smith s the wealth of nations in 1776 is usually considered to mark the beginning of classical economics the fundamental message in smith s book was that the wealth of any nation was determined not by the gold in the monarch s coffers but by its national income this income was in turn based on the labor of its inhabitants organized efficiently by the division of labour and the use of accumulated capital which became one of classical economics central concepts full article image 18 marginalism is a theory of economics that attempts to explain the discrepancy in the value of goods and services by reference to their secondary or marginal utility for example it states that the reason why the price of diamonds is higher than that of water owes to the greater additional satisfaction of the diamonds over the water thus while the water has greater total utility the diamond has greater marginal utility although the central concept of marginalism is marginal utility marginalists following the work of alfred marshall drew upon the idea of marginal physical productivity in explanation of cost the concept of marginalism came from carl menger william stanley jevons and leon walras when resolving the diamond water paradox propounded by adam smith by distinguishing between total utility and marginal utility the neoclassical tradition that emerged from british marginalism abandoned the concept of utility and gave marginal rates of substitution a more fundamental role in analysis marginalism is an integral part of mainstream economic theory full article image 19 evolutionary economics is a school of economic thought that is inspired by evolutionary biology although not defined by a strict set of principles and uniting various approaches it treats economic development as a process rather than an equilibrium and emphasizes change qualitative organisational and structural innovation complex interdependencies self evolving systems and limited rationality as the drivers of economic evolution the support for the evolutionary approach to economics in recent decades seems to have initially emerged as a criticism of the mainstream neoclassical economics but by the beginning of the 21st century it had become part of the economic mainstream itself evolutionary economics does not take the characteristics of either the objects of choice or of the decision maker as fixed rather it focuses on the non equilibrium processes that transform the economy from within and their implications considering interdependencies and feedback the processes in turn emerge from the actions of diverse agents with bounded rationality who may learn from experience and interactions and whose differences contribute to the change full article image 20 the american school also known as the national system represents three different yet related constructs in politics policy and philosophy the policy existed from the 1790s to the 1970s waxing and waning in actual degrees and details of implementation historian michael lind describes it as a coherent applied economic philosophy with logical and conceptual relationships with other economic ideas it is the macroeconomic philosophy that dominated united states national policies from the time of the american civil war until the mid 20th century closely related to mercantilism it can be seen as contrary to classical economics it consisted of these three core policies protecting industry through selective high tariffs especially 1861 1932 government investments in infrastructure creating targeted internal improvements especially in transportation a national bank with policies that promote the growth of productive enterprises rather than speculation full article image 21 complexity economics or economic complexity is the application of complexity science to the problems of economics it relaxes several common assumptions in economics including general equilibrium theory while it does not reject the existence of an equilibrium it features a non equilibrium approach and sees such equilibria as a special case and as an emergent property resulting from complex interactions between economic agents the complexity science approach has also been applied as the primary field in computational economics full article image 22 neo marxism is a collection of marxist schools of thought that originated from 20th century approaches to amend or extend marxism and marxist theory typically by incorporating elements from other intellectual traditions such as critical theory psychoanalysis or existentialism neo marxism comes under the broader framework of the new left in a sociological sense neo marxism adds max weber s broader understanding of social inequality such as status and power to marxist philosophy as with many uses of the prefix neo some theorists and groups who are designated as neo marxists have attempted to supplement the perceived deficiencies of orthodox marxism or dialectical materialism many prominent neo marxists such as herbert marcuse and other members of the frankfurt school have historically been sociologists and psychologists full article image 23 heterodox economics family tree heterodox economics is a broad relative term referring to schools of economic thought which are not commonly perceived as belonging to mainstream economics there is no absolute definition of what constitutes heterodox economic thought as it is defi...