Criteria for Assessing the Paretian Episode

Abstract

Histories of economic thought commonly refer to schools. They are sometimes used in reference to ideas associated with groups that endure for a century or more and which cross institutional, regional and national boundaries. Classical and neoclassical economics may be the broadest examples of schools in economic thought. More often though, schools are linked to ideas associated with countries, regions or cities, or with institutions, especially educational institutions. The Austrian school, the German-Historical school and the Italian school all associate economic thought with ideas that emerged in a particular nation. Similarly, the school of Virginia links public choice ideas with a region. There are also numerous examples of schools named after educational institutions in particular cities: prominent among these are the Cambridge school, the Chicago school, the Turin school and, of course, the Lausanne school. While not unknown, it is less common for schools to be named after individuals. These exceptions usually concern intellectual giants. In economic histories, mention is sometimes made of the Ricardian school, the Marxian school and various Keynesian schools.