Grigory Feldman Rosa Luxemburg Richard D. Wolff Rudolf Hilferding Karl Kautsky Karl Marx Nikolai Bukharin Nobuo Okishio Paul Sweezy Samir Amin Vladimir Lenin Yevgeni Preobrazhensky Neo-Marxian economics David Gordon Samuel Bowles Paul A. Baran Adam Przeworski Henryk Grossman State socialism Henri de Saint-Simon Ferdinand Lassalle Johann Karl Rodbertus Fabian Society Anarchist economics Anarchist economics comprises a set of theories which seek to outline modes of production and exchange not governed by coercive social institutions: Mutualists advocate market socialism. Collectivist anarchists advocate workers cooperatives and salaries based on the amount of time contributed to production. Anarcho-communists advocate a direct transition from capitalism to libertarian communism and a gift economy with direct communal democracy. Anarcho-syndicalists advocate worker's direct action and the general strike. Thinkers associated with anarchist economics include: Charles Fourier Pierre-Joseph Proudhon Peter Kropotkin Mikhail Bakunin Distributism Distributism is an economic philosophy that was originally formulated in the late 19th century and early 20th century by Catholic thinkers to reflect the teachings of Pope Leo XIII's encyclical Rerum Novarum and Pope Pius's XI encyclical Quadragesimo Anno. It seeks to pursue a third way between capitalism and socialism, desiring to order society according to Christian principles of justice while still preserving private property. G. K. Chesterton Hilaire Belloc Institutional economics Institutional economics focuses on understanding the role of the evolutionary process and the role of institutions in shaping economic behaviour. Its original focus lay in Thorstein Veblen's instinct-oriented dichotomy between technology on the one side and the "ceremonial" sphere of society on the other. Its name and core elements trace back to a 1919 American Economic Review article by Walton H. Hamilton. Gunnar Myrdal Thorstein Veblen John Rogers Commons Wesley Clair Mitchell John Maurice Clark Robert A. Brady Clarence Edwin Ayres Romesh Dutt John Kenneth Galbraith Geoffrey Hodgson Ha-Joon Chang Neoclassical economics Neoclassical economics is the dominant form of economics used today and has the highest amount of adherents among economists. It is often referred to by its critics as Orthodox Economics. The more specific definition this approach implies was captured by Lionel Robbins in a 1932 essay: "the science which studies human behavior as a relation between scarce means having alternative uses." The definition of scarcity is that available resources are insufficient to satisfy all wants and needs; if there is no scarcity and no alternative uses of available resources, then there is no economic problem. William Stanley Jevons Francis Ysidro