ABSTRACT

Even those people who know people's discipline just superficially, know about the multitude of approaches and the quarrels between their disciples. It might confuse, even deter, the beginner or the layman but it is neither special nor disturbing. Perhaps even Smith and Ricardo would not have known where to go next. That is definitely true for their successors. Their approach came to the end of its productivity, and there was no replacement. With the loss of its internal power, the field also lost its external influence, especially since at the time of its upswing the field had gone out on a limb by tackling the area of practical problems and had given short and general answers to questions, which were too complex to solve on the first try. It was the representatives of the new theory who investigated the classic economics.