Other Schools
General equilibrium theory is a central point of contention and influence between the neoclassical school and other schools of economic thought, and different schools have varied views on general equilibrium theory. Some, such as the Keynesian and Post-Keynesian schools, strongly reject general equilibrium theory as "misleading" and "useless"; others, such as the Austrian school, show more influence and acceptance of general equilibrium thinking, though the extent is debated. Other schools, such as new classical macroeconomics, developed from general equilibrium theory.
Read more about this topic: General Equilibrium Theory
Famous quotes containing the word schools:
“Were for statehood. We want statehood because statehood means the protection of our farms and our fences; and it means schools for our children; and it means progress for the future.”
—Willis Goldbeck (19001979)
“Our good schools today are much better than the best schools of yesterday. When I was your age and a pupil in school, our teachers were our enemies.
Can any thing ... be more painful to a friendly mind, than a necessity of communicating disagreeable intelligence? Indeed it is sometimes difficult to determine, whether the relator or the receiver of evil tidings is most to be pitied.”
—Frances Burney (17521840)