Criticisms of Neoclassical Economics
Neoclassical Economics, Normative Economics, Homo Economicus, Pareto Efficiency, General Equilibrium Theory
978-620-1-17573-0
6201175733
64
2012-07-03
29,00 €
eng
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Please note that the content of this book primarily consists of articles available from Wikipedia or other free sources online. Neo-classical economics has come under critique on the basis of its core ideologies, assumptions and other matters. Neoclassical economics is sometimes criticized for having a normative bias. In this view, it does not focus on explaining actual economies but instead on describing a "utopia" in which Pareto optimality applies. In the opinion of some developers of an alternative approach, the purpose of neoclassical economics is "to demonstrate the social optimality if the real world were to resemble the model", not "to explain the real world as observed empirically".
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