(Mostly what is mainstream economics, as this post turned out). The field of economics is overwhelmingly dominated by a single school of thought - known as Neoclassical Economics. Almost all economists are neoclassical economists. Note: I am incorrectly blending together Neoclassical Economists with New Keynesians (not actually Keynesians - he would be turning in his … Continue reading What is heterodox economics?
Tag: Macroeconomics
Inflation is acceleration
Inflation is a rise in the general price level over a period of time. This means prices moving from one level to a new (higher) level between points in time. If inflation stops, the prices will stop rising and the new (higher) price level will remain until either inflation or deflation occur. Deflation is simply … Continue reading Inflation is acceleration
Tom Nockolds 