Pages

▼

Pages

▼

Friday, November 22, 2013

Econ Evolution Diagram

Here's a diagram to go with my previous post on selected highlights of recent economic history:

        Diagram: Evolution of Selected Economic Schools

Thanks for the comments and feedback on the previous post.  Obviously, this is not meant to be comprehensive or scientific.  Rather it's meant to show influences on MMT and the relationships among the various schools of economic thought that we most often discuss around here.  Any feedback or suggestions in that regard will be most welcome...
at

11 comments:

  1. Tom HickeyNovember 22, 2013 at 8:16 PM

    Good one, Dan. I would include institutional economics (institutionalism) as one of the major influences on MMT along with PKE.

    ReplyDelete
  2. Detroit DanNovember 23, 2013 at 9:58 AM

    Thanks Tom. I'll look into that...

    ReplyDelete
  3. DarrenNovember 24, 2013 at 6:04 PM

    Schumpeter -> Minsky -> Wray

    Schumpeter = Austrian

    ReplyDelete
  4. Detroit DanNovember 24, 2013 at 10:43 PM

    Thank you Senexx Arturo!

    ReplyDelete
  5. Detroit DanNovember 24, 2013 at 10:57 PM

    What did Minsky and Wray get from Schumpeter?

    ReplyDelete
  6. Tom HickeyNovember 24, 2013 at 11:01 PM

    Schumpeter was Austrian in the sense that he came from Vienna and was educated there. He did not identify with any school and worked out of a Walrasian GE framework in developing his entrepreneurial theory.

    Was Schumpeter an Austrian?

    Minsky ditched the Walrasian GE. Some count Minsky as PKE, others don't. Like Schumpeter, he never self-indentified with a school to my knowledge. Some view him as more conventional than PKE.

    I would just leave it at Schumpeter > Minsky > Wray without mentioning a school.

    ReplyDelete
  7. Tom HickeyNovember 24, 2013 at 11:09 PM

    Financing Innovation: an Application of a Keynes-Schumpeter-Minsky Synthesis Financing Innovation: an Application of a Keynes-Schumpeter-Minsky Synthesis

    An INET grant that Randy and Mariana Mazzucato are working on.

    ReplyDelete
  8. SenexxNovember 25, 2013 at 5:38 AM

    Thanks I didn't know that.

    ReplyDelete
  9. Roger EricksonNovember 25, 2013 at 11:06 AM

    Dan,
    Seriously, ya gotta include all the hats these folks wore. :) Plus the feathers on or in them.

    ReplyDelete
  10. Roger EricksonNovember 25, 2013 at 11:07 AM

    ps: In parallel, could you diagram what these folks have sentenced us to? In plain English of course, for grammarians.

    ReplyDelete
  11. Roger EricksonNovember 25, 2013 at 11:31 AM

    then there's this, from our pals at Annenberg gangster foundation

    http://www.annenbergclassroom.org/search.aspx?cx=000672474746801930868:qnwk7z_onwo&cof=FORID:9&filter=0&q=economics&AspxAutoDetectCookieSupport=1

    ReplyDelete