Economic ideology
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An economic ideology distinguishes itself from economic theory in being normative rather than just explanatory in its approach. It expresses a perspective on the way an economy should run and to what end, whereas the aim of economic theories is to create accurate explanatory models. However the two are closely interrelated as underlying economic ideology influences the methodology and theory employed in analysis. The diverse ideology and methodology of the 74 Nobel laureates in economics speaks to such interrelation.
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See also
- Constitutional economics
- Economic system
- Development economics
- Ecological economics
- Political economy
- Social model
- Political ideology
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