There is a widespread impression today that the history of … - Jürg Niehans

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There is a widespread impression today that the history of economics is a sequence of revolutions and counter-revolutions, successive schools rising to dominance just to be deposed in a crisis by another school. According to this view, paraphrasing Marx, all history of economics is a history of school struggles, punctuated by revolutions.

Jürg Niehans

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About Jürg Niehans

Jürg Niehans (Bern, 8 November 1919 - Palo Alto , California, 23 April 2007) was a Swiss economist.

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Alternative Names: Juerg Niehans

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Economics should be under no illusion that central banking will ever become a science.

If one could be perfectly certain that everybody always stays within his budget constraint, everybody could be allowed to obtain goods without a specific quid pro quo.

Money is here called the a medium and not, as customary, a unit of account because, clearly, money itself is not a unit, but the good whose unit is used as the unit of account.

There is a widespread impression today that the history of economics is a sequence of revolutions and counter-revolutions, successive schools rising … - Jürg Niehans

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