The Evolution of Orthodoxy in Economics
From Adam Smith to Paul Samuelson
By A.M.C. Waterman
From Smith to Samuelson, orthodoxy in the economics discipline has shared two assumptions: that economics is a positive, value-free science, and that all social phenomena arise only as the result of purposeful actions by rational individuals. Within the orthodox camp, however, there is a diverse and evolving body of sometimes complementary, sometimes competing doctrines.
|Other Independent Review articles by A.M.C. Waterman|
|Winter 2016/17||Pope Francis on the Environmental Crisis|
|Winter 2002/03||Economics, Love, and Family Values:Nancy Folbre and Jennifer Roback Morse on the Invisible Heart|