History of economic thought -- Information on all of these economists and economic schools of thought can be found on Wikipedia. By the way -- beware of Wikipedia -- it can't be completely trusted. For instance the most important material on Fractional Reserve Banking is almost completely wrong.

Too much information?

In this write's opinion, the wide variety of (mostly academic) thought and theory represented by the above referenced material has lead to a cacophony of economic theory that is causing much trouble throughout the modern-day world.

The problem is that the writing is mostly accepted as hard truth by students because the writers are very convincing. Those students go on to spread that "truth" through their writing, arguing and teaching -- not realizing that all original books are theoretical and there is no way that the theories can be checked by scientific methods.

We have wound up with somewhere between five and 20 groups of somewhat intelligent thinkers who each are absolutely convinced -- to a religious, dogmatic certainty -- that they understand economics.

The babel of unrelenting voices is, as one might expect, causing much confusion in governments and businesses of every nation. I think we would all do much better if we (a) admit that very little is truly known about economics and (b) we should simply take a path that simply makes common sense to those who have proven themselves to be clear thinkers and humble achievers in other areas.

The economic experts have proven themselves to be incompetents over the last few years (2007 to 2009) -- why should we believe anything the say? Money and business are way too important to be left to the experts.

Follow Buddha who teaches, "Believe nothing, no matter where you read it, or who said it, no matter if I have said it, unless it agrees with your own reason and your own common sense." / Buddha

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