Some Emerging Economic Concepts That May Gain Prominence in the 21st Century

The distinction between mainstream (orthodox) and alternative (heterodox) economic theories is a product of time. An idea once considered unconventional can become mainstream, while today's dominant theory may lose relevance in the future. For instance, classical economics in the 18th and 19th centuries focused primarily on microeconomic issues, particularly the theory of value and cost-of-production-based…