Monday money

Are you neo-chartalist, market monetarist, or good old-fashioned Austrian, when it comes to economic inclinations? Get the low-down on heterodox economics and choose your poison.

These three schools of macroeconomic thought differ in their pedigree, in their beliefs, in their persuasiveness and in their prospects. Yet they also have a lot in common. They have thrived on the back of massive disillusion with mainstream economics, which held that the economy would grow steadily if central banks kept inflation low and stable, and that there were no great gains in the offing from fiscal expansion, nor any great cause for concern over financial instability. And they have benefited hugely from blogging.