Wednesday, October 26, 2005

Economic Theories

While working on an assignment, I had to review most of the economical theories over the history. It amazed me again how most of them were working for the sake of society benefits but were contradicting each other and claiming that one's theory does not solve the problems of the society. Most of them did not took the difference of societies and time into account while criticizing the other's theory.

For example, Adam Smith's invisible hand was not favored by Robbins and was criticized by other Marxist without showing the affect of their own societies and cultural heritage on this refusal.
Furthermore, most economic professors label themselves with one theory or economical approach and bias their lectures by that.

I am looking for an impartial economics professor who is able to criticize and judge all the theories based on the latest changes in our global village regardless of his own background.

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