Understanding Neoclassical Economics . Neoclassical economics emerged as a theory in the 1900s. Neoclassical economists believe that a consumer's first concern is to maximize personal satisfaction ...

Speaking at the recent Rothbard Graduate Seminar, Dr. Joseph Salerno traces Murray Rothbard‘s intellectual development while ...

Over the last 40 years, business schools followed the siren call of neoclassical economic theory and steadily “disembedded” themselves from society to their detriment and to that of society.

This disagreement reflects a 60-year history of misapplication of the neoclassical theory of investment to interpret empirical work and guide policy analysis. In this article I reconsider the ...

Endogenous growth theory maintains that economic growth is primarily the result of internal forces, rather than external ones. It argues that improvements in productivity can be tied directly to ...

The Sveriges Riksbank’s Prize in Economic Sciences - or the Nobel prize in economics - awarded last week to Thomas Sargent and Christopher Sims- implicitly claims that economics is a science.

For more than a century, neoclassical theory dominated economic thinking. Neoclassical economics is a theory based on three key assumptions: individuals have rational preferences; individuals maximize ...

Misconceptions of neoclassical economics. For the study, the research team, consisting of sustainability experts from across scientific disciplines, refuted 10 key hypotheses and four claims of ...

Economic Theory for the Real World. Sep 9, 2024 James K. Galbraith. Although policies based on mainstream neoclassical economics, famously enshrined in the Washington Consensus, have clearly failed, ...