Heterodox economics and Joseph Schumpeter

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Difference between Heterodox economics and Joseph Schumpeter

Heterodox economics vs. Joseph Schumpeter

Heterodoxy is a term that may be used in contrast with orthodoxy in schools of economic thought or methodologies, that may be beyond neoclassical economics. Joseph Alois Schumpeter (8 February 1883 – 8 January 1950) was an Austrian political economist.

Austrian School

The Austrian School is a school of economic thought that is based on methodological individualism—the concept that social phenomena result from the motivations and actions of individuals.

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Economics

Economics is the social science that studies the production, distribution, and consumption of goods and services.

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Evolution

Evolution is change in the heritable characteristics of biological populations over successive generations.

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Evolutionary economics

Evolutionary economics is part of mainstream economics as well as a heterodox school of economic thought that is inspired by evolutionary biology.

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Ha-Joon Chang

Ha-Joon Chang (born 7 October 1963) is a South Korean institutional economist and socialist specialising in development economics.

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Historical school of economics

The historical school of economics was an approach to academic economics and to public administration that emerged in the 19th century in Germany, and held sway there until well into the 20th century.

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Hyman Minsky

Hyman Philip Minsky (September 23, 1919 – October 24, 1996) was an American economist, a professor of economics at Washington University in St. Louis, and a distinguished scholar at the Levy Economics Institute of Bard College.

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Journal of Economic Literature

The Journal of Economic Literature is a peer-reviewed academic journal, published by the American Economic Association, that surveys the academic literature in economics.

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Karl Marx

Karl MarxThe name "Karl Heinrich Marx", used in various lexicons, is based on an error.

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Keynesian economics

Keynesian economics (sometimes called Keynesianism) are the various macroeconomic theories about how in the short run – and especially during recessions – economic output is strongly influenced by aggregate demand (total demand in the economy).

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Marxian economics

Marxian economics, or the Marxian school of economics, refers to a school of economic thought tracing its foundations to the critique of classical political economy first expounded upon by Karl Marx and Friedrich Engels.

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Nicholas Georgescu-Roegen

Nicholas Georgescu-Roegen (born Nicolae Georgescu, 4 February 1906 – 30 October 1994) was a Romanian American mathematician, statistician and economist.

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Paul Samuelson

Paul Anthony Samuelson (15 May 1915 – 13 December 2009) was an American economist and the first American to win the Nobel Memorial Prize in Economic Sciences.

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Political economy

Political economy is the study of production and trade and their relations with law, custom and government; and with the distribution of national income and wealth.

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Robert Solow

Robert Merton Solow, GCIH (born August 23, 1924), is an American economist, particularly known for his work on the theory of economic growth that culminated in the exogenous growth model named after him.

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Thorstein Veblen

Thorstein Bunde Veblen (born Torsten Bunde Veblen; July 30, 1857 – August 3, 1929), a Norwegian-American economist and sociologist, became famous as a witty critic of capitalism.

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