HISTORICAL EVOLUTION AND PRESENT STATE OF MODERN ECONOMICS IN THE UNITED STATES Cui Yonglie (108) The center of western economics moved from Britain to the United States after the war. The two major schools of economic theory in U.S. today, the neo-classical theory and monetarism, differ in methodology as well as in policy preferences. Future development of economics will be characterized by integration of different schools, the broadening of the subject matter and an emphasis on sectorial economic analysis.