Contractionary Economics

In focusing on the details of ENL's concepts and analytical tools we must not lose sight of the fact that it has a restricted purpose: to serve as a guiding framework in a more comprehensive economic theory called contractionary economics.

A guiding framework establishes an economy's objectives, whereas a functional framework addresses its operational details. This section discusses how ENL could be merged with various elements of current economic thought to form a theory that has both guiding and functional components.

As well, it briefly considers how contractionary economics might be developed in a conservative context, where the state participation implied by ENL would be minimized.

Contents of this section:

Current Economic Thought Today's economic thinking is dominated by a discipline that is referred to in ENL as standard economics. Also called "neoclassical economics", this theory includes concepts and tools that both justify and implement the economic logic of capitalism. Read on…
Ecological Economics Ecological economics describes itself as a transdiscipline, or sometimes as a field of study, in order to avoid the usual academic term, "discipline". Read on…
Evolution of Contractionary Economics The time element in the development of contractionary economics requires consideration. Read on…
Heterodox Economics The various schools of thought within heterodox economics are overwhelmingly concerned with the analysis of economic reality. That is, they accept the guidance provided by capitalist logic, but introduce concepts that are intended to analyze capitalist economies in more depth, or with more accuracy, than standard concepts. Read on…

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