Macroeconomics and it's Schools of Thought Adam Smith founded economics as we know it today in 1776 with his work 'The Wealth of Nations'. Throughout the last two centuries economics has developed and consistently branched out into new and different areas. Though some may disagree, the two schools of thought that have had the most influence over economists past and present are Keynesian and Monetarist economics. Keynesian economics, derived from the theories of John Maynard Keynes, …
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showed last 75 words of 1439 total
…Keynesian and Monetarist economics can help succeed. Reference: Joseph E. Stiglitz, Carl E. Walsh (2002). Economics, Third Edition. Published by W.W. Norton & Company Inc. Michael Parkin, David King (1995). Economics, Second Edition. Published by Addison-Wesley Publishers Ltd. Gregory Mankin (1994). Macroeconomics, Second Edition. Published by Worth Publishers Inc. William J. Barber (1967). History of Economic Thought. Published by Hazell Watson & Viney Ltd. Author Unknown (2003). Monetarism in Practice. Published by Wikipedia, the free encyclopedia on the Web.