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| == '''[[History of economic thought]]''' ==
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| ''by [[User:Nick Gardner|Nick Gardner]], [[User:João Prado Ribeiro Campos|João Prado Ribeiro Campos]] and [[User:Richard Jensen|Richard Jensen]]
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| | ==Footnotes== |
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| Modern economic thought is generally considered to have originated in the late eighteenth century with the work of [[David Hume]] and [[Adam Smith]], and the foundation of classical economics. (Earlier approaches are described in the article on the [[History of pre-classical economic thought]].) The nineteenth and twentieth centuries saw major developments in the methodology and scope of economic theory.
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| Nineteenth- and early twentieth-century economists applied deductive reasoning to axioms considered to be self-evident and to simplifying assumptions which were thought to capture the essential features of economic activity. That methodology yielded concepts such as [[elasticity]] and [[utility]], tools such as marginal analysis, and theorems such as the law of [[comparative advantage]]. An extension of the relationships governing transactions between consumers and producers was considered to provide all that was necessary to understand the behaviour of the national economy.
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| The development, in the later 20th century, of systems of [[economic statistics]] enabled economists to use inductive reasoning to test theoretical findings against observed economic behaviour and to develop new theories. By that time, the concept had emerged of the national economy as an open interactive system, and analysis of that concept provided explanations of [[recession|recessions]], [[unemployment]] and [[inflation]] that were not previously available. The application of empirical data and inductive reasoning enabled those theories to be refined and led to the development of forecasting models that could be used as tools of economic management.
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| The late 20th and early 21st centuries have seen further theoretical and empirical refinements and significant advances in the techniques of economic management.
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| ===Overview: categories of economic thought=== | |
| Historians categorise economic thought into “periods” and “schools” and tend to attribute each innovation to one individual. This categorization is helpful for the purpose of exposition, although the reality has been a story of interwoven intellectual threads in which advances attributed to particular individuals or schools have often prompted the work of others. For example, the quantity theory of money, which achieved prominence in the twentieth century and is associated with Milton Friedman, was first formulated at least three centuries earlier. Many of those threads that have permeated the categories referred to as "Classical economics" and "Neoclassical economics"—such as the concept of value and the nature of economic growth—had an earlier origin in "Pre-classical economics" (see [[History of pre-classical economic thought]]). "Classical" in economics denotes the adoption in the late eighteenth century of an approach that was inspired by the enlightenment and the methodology of the physical sciences, and had abandoned previous examinations of economics in terms of ethics, religion and politics. Preoccupation with those threads was overshadowed in the twentieth century by the responses of [[Keynesianism]] and [[monetarism]] to the problems of unemployment and [[inflation]], but the development of neoclassical economics started before that time and has continued thereafter. (The boundary between the "classical" and "neoclassical" categories is marked mainly by the rejuvenation of the value thread by the concept of [[utility]] and the associated explanation of price in terms of "[[supply and demand]]".) The introduction of new tools of exploration has since led to the vigorous development of that and other threads, and an expansion in the scope of economics into many new directions.
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| ''[[History of economic thought|.... (read more)]]''
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| ! style="text-align: center;" | [[History of economic thought#References|notes]]
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Latest revision as of 09:19, 11 September 2020
Paramhansa Yogananda circa 1920.
Paramhansa Yogananda (5 Jan 1893–7 Mar 1952) was one of the first Indian teachers from the Hindu spiritual tradition to reside permanently in the West, and in particular, he was the first to teach yoga to Americans. He emphasized the universality of the great religions, and ceaselessly taught that all religions, especially Hinduism and Christianity, were essentially the same in their essence. The primary message of Yogananda was to practice the scientific technique of kriya yoga to be released from all human suffering.
He emigrated from India to the United States in 1920 and eventually founded the Self-Realization Fellowship there in Los Angeles, California. He published his own life story in a book called Autobiography of a Yogi, first published in 1946. In the book, Yogananda provided some details of his personal life, an introduction to yoga, meditation, and philosophy, and accounts of his world travels and encounters with a wide variety of saints and colorful personalities, including Therese Neumann, Mohandas K. Gandhi, Luther Burbank, and Jagadis C. Bose.
Paramhamsa, also spelled Paramahamsa, is a Sanskrit title used for Hindu spiritual teachers who have become enlightened. The title of Paramhansa originates from the legend of the swan. The swan (hansa) is said to have a mythical ability to sip only the milk from a water-and-milk mixture, separating out the more watery part. The spiritual master is likewise said to be able to live in a world like a supreme (param) swan, and only see the divine, instead of all the evil mixed in there too, which the worldly person sees.
Yogananda is considered by his followers and many religious scholars to be a modern avatar.
In 1946, Yogananda published his Autobiography of a Yogi. It has since been translated into 45 languages, and in 1999 was designated one of the "100 Most Important Spiritual Books of the 20th Century" by a panel of spiritual authors convened by Philip Zaleski and HarperCollins publishers.
Awake: The Life of Yogananda is a 2014 documentary about Paramhansa Yogananda, in English with subtitles in seventeen languages. The documentary includes commentary by George Harrison and Ravi Shankar, among others.[1][2]
