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About: Economic ideology     Goto   Sponge   NotDistinct   Permalink

An Entity of Type : yago:WikicatEconomicSystems, within Data Space : dbpedia.org associated with source document(s)

Type: yago:Abstraction100002137yago:Attitude106193203yago:Cognition100023271yago:Economy108366753yago:Group100031264yago:Orientation106208021yago:PoliticalOrientation106212839yago:PsychologicalFeature100023100yago:WikicatIdeologiesyago:System108435388yago:WikicatEconomicIdeologiesyago:WikicatEconomicSystems New Facet based on Instances of this Class

An economic ideology is a set of views forming the basis of an ideology on how the economy should run. It differentiates itself from economic theory in being normative rather than just explanatory in its approach, whereas the aim of economic theories is to create accurate explanatory models to describe how an economy currently functions. 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.