Animated Scroll Recent Posts With Thumbnails For Blogger by Beautiful Blogger Widgets

| 99 Names of Allah | AR-RAHMÂN : The Most Compassionate, The Beneficent, The Gracious | AR-RAHÎM : The Merciful | AL-MALIK : The King | AL-QUDDÛS : The Most Holy | AS-SALÂM : The All-Peaceful, The Bestower of peace | AL-MU'MIN : The Granter of security | AL-MUHAYMIN : The Protector | AL-'AZÎZ : The Mighty | AL-JABBÂR : The Compeller | AL-MUTAKABBIR :Supreme in Greatness, The Majestic | AL-KHÂLIQ : The Creator | AL-BÂRI' : The Maker | AL-MUSAWWIR : The Bestower of form, The Shaper | AL-GAFFÂR : The Forgiver | AL-QAHHÂR : The Subduer | AL-WAHHÂB : The Bestower | AR-RAZZÂQ : The Provider | AL-FATTÂH : The Opener, The Judge | AL-'ALÎM : The All-Knowing | AL-QÂBID : The Withholder | AL-BÂSIT : The Expander | AL-KHÂFID : The Abaser | AR-RÂFI' : The Exalter | AL-MU'IZZ : The Bestower of honour | AL-MUDHILL : The Humiliator | AS-SAMÎ' : The All-Hearing | AL-BASÎR : The All-Seeing | AL-HAKAM : The Judge | AL-'ADL : The Just, The Equitable | AL-LATÎF : The Gentle, The Knower of subtleties | AL-KHABÎR : The All-Aware | AL-HALÎM : The Forbearing | AL-'AZÎM : The Incomparably Great | AL-GAFÛR : The Forgiving | ASH-SHAKÛR : The Appreciative | AL-'ALIYY : The Most High | AL-KABÎR : The Most Great | AL-HAFÎZ : The Preserver | AL-MUGHÎTH : The Sustainer | AL-HASÎB : The Reckoner | AL-JALÎL : The Majestic, The Revered, The Sublime | AL-KARÎM : The Generous | AR-RAQÎB : The Watchful | AL-MUJÎB : The Responsive | AL-WÂSI' : The All-Encompassing, The All-Embracing | AL-HAKÎM : The Wise | AL-WADÛD : The Loving One | AL-MAJÎD : The Most Glorious | AL-BÂ'ITH : The Resurrector | ASH-SHAHÎD : The Witness | AL-HAQQ : The Truth | AL-WAKÎL : The Ultimate Trustee, The Disposer of Affairs | AL-QAWIYY : The Most Strong | AL-MATÎN : The Firm One, The Authoritative | AL-WALIYY : The Protector | AL-HAMÎD : The All-Praised, The Praiseworthy | AL-MUHSÎ : The Reckoner | AL-MUBDI' : The Originator | AL-MU'ÎD : The Restorer to life | AL-MUHYÎ : The Giver of life | AL-MUMÎT : The Causer of death | AL-HAYY : The Ever-Living | AL-QAYYÛM : The Self-Existing by Whom all subsist | AL-WÂJID : The Self-Sufficient, The All-Perceiving | AL-MÂJID : The Glorified | AL-WÂHID : The One | AS-SAMAD : The Eternally Besought | AL-QÂDIR : The Omnipotent, The Able | AL-MUQTADIR : The Powerful | AL-MUQADDIM : The Expediter | AL- MU'AKHKHIR : The Delayer | AL-AWWAL : The First | AL-ÂKHIR : The Last | AZ-ZÂHIR : The Manifest | AL-BÂTIN : The Hidden | AL-WÂLÎ : The Governor, The Protector | AL-MUTA'ÂLÎ : The Most Exalted | AL-BARR : The Benign, The Source of All-Goodness | AT-TAWWÂB : The Granter and Accepter of repentence | AL- MUNTAQIM : The Lord of Retribution, The Avenger | AL-'AFUWW : The Pardoner | AR-RA'ÛF : The Most Kind, The Clement | MÂLIK-UL-MULK Owner of the Kingdom | DHUL JALÂL WAL IKRÂM Possessor of Majesty and Honour | AL-MUQSIT : The Just, The Equitable | AL-JÂME' : The Gatherer | AL-GHANIYY : The All-Sufficient | AL-MUGHNÎ : The Enricher | AL-MÂNI' : The Preventer of harm | AD-DÂRR : The Afflicter | AN-NÂFI' : The Benefiter | AN-NÛR : The Light | AL-HÂDÎ : The Guide | AL-BADÎ' : The Originator | AL-BÂQÎ : The Everlasting | AL-WÂRITH : The Ultimate Inheritor | AR-RASHÎD : The Guide | AS-SABÛR : The Patient One

Quran in Roman Urdu

Sunday, July 24, 2011

Economic Schools of Thoughts

Economic Schools of Thoughts
Economic Schools of Thoughts are divided into three classes:
  1. Schools of Political Economy (Ancient times – 1871 A.D.),
  2. Neoclassical Schools (1871 A.D. – today), and
  3. Alternative Schools.
 
1. Schools of Political Economy: Schools of Political Economy can be traced back from Ancient times to 1871 A.D.  The Schools of Political Economy can be further divided into two:

(a) Pre-Classical Thoughts: The Pre-Classical Thoughts consist of the contributions made by the following:
(i)            The Ancients and Scholastics, including the great Greek philosophers Aristotle and Xenophon, and the Islamic philosopher Ibn Khaldun
(ii)           The Salamanca School initiated by Francisco de Vitoria around 1536
(iii)          The First Economists
(iv)          Sir William Petty and the Mercantilists
(v)            Richard Cantillon, Jacques Turgot and the Enlightenment Economics
(vi)           François Quesnay and the Physiocrats
(vii)          David Hume and Scottish Enlightenment
(viii)         Giliani and the Italian Tradition, and
(ix)            Social philosophers and commentators
 
(b) Classical Thoughts: The classical thoughts consist of the contributions made by the following:
                (i)            Adam Smith
                (ii)           David Ricardo, John Stuart Mill and the Classical Ricardian School
                (iii)          T. Robert Malthus and British Anti-Classical Economists
                (iv)          Jeremy Bentham and the Utilitarians
                (v)           Jean-Baptiste Say and the French Liberal School
                (vi)          Jules Dupuit and the French Engineers
                (vii)         Continental Proto-Marginalists
                (viii)        Karl Marx and the Marxian School
                (ix)          The Bullionist Controversies
                (x)            The Manchester School 
                (xi)           Piero Sraffa and the Neo-Ricardians
                (xii)          The Neo-Marxians
 
2. Neoclassical Schools: Neoclassical Schools of thought starts from 1871 A.D. till today.  Neoclassical Schools is further divided into two:
 
(a) Anglo-American Neoclassicism: consists of the contributions of the following:
                          (i)            W. Stanley Jevons and the Anglo-American Marginalists
                          (ii)           John Bates Clark and the American Apologists
                          (iii)          Alfred Marshall and the Cambridge Neoclassicals
                          (iv)           Lord Robbins and the London School of Economics.
                          (v)             Frank H. Knight and the Chicago School
                          (vi)            Milton Friedman and the Monetarists
                          (vii)           Robert Lucas and the New Classicals
                          (viii)          New Institutionalist Schools
 
(b) Continental Neoclassicism: consists of the contributions made by the following:
                          (i)             Léon Walras and the Lausanne School
                          (ii)            Carl Menger and the Austrian School
                          (iii)           Knut Wicksell and the Swedish School
                          (iv)           Paul Samuelson, John Hicks and the Paretian Revival.
                          (v)            The Vienna Colloquium  
                          (vi)            Tjalling Koopmans and the Cowles Commission
                          (vii)            Kenneth Arrow, Gérard Debreu and the Neo-Walrasian General Equilibrium School
                          (viii)           Robert Aumann and the Edgeworthian Revival
 
3. Alternative Schools: can be divided into two schools of thoughts:
 
(a) Heterodox Traditions: consist of the contributions by the following:
                              (i)            Utopians and Socialists
                            (ii)            The Fabian Socialists
                           (iii)            Gustav Schmoller and the German Historical School
                          (iv)            The English Historical School
                            (v)            The French Historical School
                          (vi)            Thorstein Veblen and the American Institutionalist School.
                         (vii)            Joseph Schumpeter and Evolutionary Economics.
                       (viii)            The Soviet Planning Economists
                          (ix)            The Neo-Marxians/Radical Political Economy
                            (x)            Economics at the New School for Social Research.
 
(b) Keynesians: School of Thought initiated by John Maynard Keynes.  He revolutionized economics with his classic book, ‘The General Theory of Employment, Interest and Money’ in 1936.  This is generally regarded as probably the most influential social science treatise of the 20th Century, in that it quickly and permanently changed the way the world looked at the economy and the role of government in society.  No other single book, before or since, has had quite such an impact.  Following are the contributors followed and improved his theory:
             (i)          Joan Robinson and the Cambridge Keynesians
             (ii)         Franco Modigliani, James Tobin and the Neo-Keynesian Synthesis.
             (iii)       Abba Lerner and the American Post Keynesians
             (iv)        Robert Clower, Axel Leijonhufvud and Disequilibrium Keynesianism
             (v)         Joseph E. Stiglitz and the New Keynesians
             (vi)        The Mandarins

0 comments:

Post a Comment