The Role of Economic Theory

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This book provides the reader with different perspectives on economic theory from the viewpoint of various sub-disciplines within economics. Questions considered include the role of economic theory and what factors influence the way economists view the role of theory in economics. The volume can be broadly divided into two camps - interventionists versus non-interventionists. The editor presents the main schools of modern economic thought and identifies qualified proponents for these schools. These schools include neoclassical economics, institutional economics, monetary economics, radical economics, rational expectations, game theory, public choice and Keynesians.