4 ms·
These are not "the basic schools" of economics. If I had to pick two camps, I would pick Keynesianism and Neoclassical economics. Politically, Keynesianism has
by gridlockd 8y ago
These are not "the basic schools" of economics. If I had to pick two camps, I would pick Keynesianism and Neoclassical economics. Politically, Keynesianism has won over both sides of the spectrum.
There is no "diametric opposition", virtually all socialists of today agree that markets are to be favored over central planning. That part is settled by history.
What socialists and non-socialists disagree over is generally the degree of state intervention in the markets and who should pay for what, that is who pays taxes and who gets the benefits.
- mhh__ 8y agoI deliberately wrote basic and political/economics, in the sense that political debate regarding economics is divided into those basic catagories at least in Britain. Economic policy, the yes practically the decision is between some form of Keynesianism or something vaguely monetarist (Laissez-Faire) How can a socialist (https://en.oxforddictionaries.com/definition/socialism https://en.oxforddictionaries.com/definition/socialism) system have a market? The point I was making is that in my experience, many socialists (as defined above, type of socialists) do not believe or understand how behaviour emerges from markets and how this is efficient where competition is possible: It's all government this, government that. May I ask where you are writing from?
- mercer 8y agohttps://en.wikipedia.org/wiki/Market_socialism#Marxism%E2%80%93Leninism https://en.wikipedia.org/wiki/Market_socialism#Marxism%E2%80...