Neoclassical Economics Can Best Be Described as

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After the 1940s Austrian economics can be divided into two schools of economic thought and the school split to some degree in the late 20th century. الاقتصاد الإسلامي refers to the knowledge of economics or economic activities and processes in terms of Islamic principles and teachings.


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One camp of Austrians exemplified by Mises regards neoclassical methodology to be irredeemably flawed.

. Therefore it has its own economic system which is based on its philosophical views and is compatible with the. The other camp exemplified by Friedrich Hayek accepts a large part of neoclassical methodology and is more accepting of. Islam has a set of special moral norms and values about individual and social economic behavior.


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