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The Evolution of "Orthodoxy" in Economics: From Adam Smith to Paul Samuelson.

The article identifies the assumptions of "orthodoxy" by observing their evolution in economic analysis. Topics include no correlation between orthodoxy or heterodoxy in economics and political beliefs and commitments, how the French Revolution has disrupted political culture and intellectual life i...

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Published in:Independent Review Vol. 24; no. 3; pp. 325 - 346
Main Author: WATERMAN, A. M. C.
Format: Article
Published: Independent Institute Winter2019-2020
Subjects:
Samuelson, Paul A. (Paul Anthony), 1915-2009
Economics
Stagnation (Economics)
History of economics
Neoclassical school of economics
Heterodox economics
Online Access:View this record in EBSCOhost
Summary:The article identifies the assumptions of "orthodoxy" by observing their evolution in economic analysis. Topics include no correlation between orthodoxy or heterodoxy in economics and political beliefs and commitments, how the French Revolution has disrupted political culture and intellectual life in France, and competition among buyers and among sellers.