The Evaluation of the Evolution of Classical School to Neo and the New-Classical School. (How Much New Is New-Classical?)

After the birth of the classical school in the last quarter of the 18th century, the general view of this school which was on the basis of "No government intervention" in economic activities, as well as "Automatic existence of full employment", was the leading school until the publication of the general theory and the birth of the Keynesian school in 1936. From 1930-70 the Keynesian framework under the title of "Neo-classical synthesis" played the dominant role in macroeconomics.But from the mid 1970s due to the lack of micro foundations the school faced with theoretical crises, where eventually ended up to "New-classical macroeconomics."This paper presents the formation of New-classical macroeconomics and its relation to the old version and how they compare and contrast in macroeconomic analysis. Through the end, further expected evolution in the school and the way it might be shaped in the future will be analyzed.