Talk:Mainstream economics

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[edit] Is Ausrian Economics Really Heterodox???

I think, and many scholars agree, that the Austrian School of Economics is the precursor of the Chicago school of economics (Considered today as the ultimate mainstream).

Check out Austrian School. Its main link is through its emphasis on pricing theory and its "radical" free market philosophy. But whereas Austrians can sometimes seem to write like borderline anarchists, the Chicago school really doesn't attack the State in quite the same way. Certainly many disciples of Ludwig von Mises and (particularly) Murray Rothbard would be appalled by the Chicago School's rejection of the gold standard as a topic of serious academic study. And many (most?) Austrians do not talk to fiat-currency-supporting monetarists, who are close cousins of the Chicago School. Austrian economics basically got cut off from Chicago after Rothbard and now forms a small cul de sac in economic theory, without much (or indeed any) mainstream academic funding or support. Chicago School (and the associated Washington Consensus) does receive very generous funding from many institutional and government sources.--Lagrandebanquesucre (talk) 10:48, 7 May 2008 (UTC)