Why can't economists agree?
Isn't economics really just a lot of numbers and math? So, why can't economists agree on... just about anything? Ah, well, yes, maybe there is a lot of numbers and math, but there are also a lot of assumptions behind that math and a lot of interpretation of the numbers and the mathematical results and subjective values on those interpretations. In fact, it is all such a mess that economists refer to "schools of economic thought", which basic means groups of people who can't with other groups of people. The Wikipedia gives us this list of 27 schools of economic thought (and more!):
- Ancient economic thought
- Islamic economics
- Scholasticism
- Mercantilism
- Physiocrats
- Classical political economy
- American (National) School
- French liberal school
- German historical school
- English historical school
- French historical school
- Utopian economics
- Marxian economics
- State socialism
- Ricardian socialism
- Anarchist economics
- Distributism
- Institutional economics
- New institutional economics
- Neoclassical economics
- Lausanne school
- Austrian school
- Stockholm school
- Keynesian economics
- Chicago school
- Carnegie school
- Neo-Ricardianism
- Modern schools
- Current heterodox schools
- Other 20th century schools
- Viewpoints within mainstream economics
- Viewpoints outside economics
Even to get agreement between the prominent Chicago, Austrian, and Keynesian schools would be difficult enough, but we have so many diverse views on so many of the factors that influence how the basic numbers and math of economics are interpreted. Even for seemingly simply issues such as the role of government in commerce.
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