What is neoclassical economics? : debating the origins, meaning and significance / edited by Jamie Morgan.

Format:

Book

Contributor:

Morgan, Jamie, 1969- editor.

Series:

Economics as social theory ; 43.

Economics as social theory ; 43

Language:

English

Subjects (All):

Neoclassical school of economics.

Economics--History.

Economics.

History.

Genre:

History.

Physical Description:

xiv, 322 pages ; 23 cm.

Place of Publication:

Abingdon, Oxon ; New York, NY : Routledge, 2016.

Summary:

Despite some diversification, modem economics still attracts a great deal of criticism. This is largely due to highly unrealistic assumptions underpinning economic theory, explanatory failure, poor policy framing and a dubious focus on prediction. Many argue that flaws continue to owe much of their shortcomings to neoclassical economics. As a result, what we mean by neoclassical economics remains a significant issue. This collection addresses the issue from a new perspective, taking as its point of departure Tony Lawson's essay 'What is this "school" called neoclassical economics?'. Few terms are as controversial for pluralist and heterodox economists as neoclassical economics. This controversy has many aspects, because the term itself has different specifications and connotations. Within this multiplicity what we mean by neoclassical matters to pluralist and heterodox economists for two primary reasons. First, because it informs how we view and critique the mainstream; second, because the relationship between heterodox and mainstream economics influences how heterodox economists model, apply methods and construct theory. The chapters in this collection each have different things to say about these matters, with contributions ranging across the work of key thinkers, such as Thorstein Veblen and Kenneth Arrow, applied issues of non-linear modelling of dynamic systems and key events in the history of economics. This book will be of use to those interested in methodology, political economy, heterodoxy and the history of economic thought. Book jacket.

Contents:

1 What is this 'school' called neoclassical economics? / Tony Lawson Lawson, Tony 30

2 From neoclassical theory to mainstream modelling: fifty years of moral hazard in perspective / John Latsis Latsis, John, Constantinos Repapis Repapis, Constantinos 81

3 Neoclassicism, critical realism and the Cambridge methodological tradition / Sheila Dow Dow, Sheila 102

4 Lawson, Veblen and Marshall: how to read modern neoclassicism / Anne Mayhew Mayhew, Anne 119

5 Lawson on Veblen on social ontology / John B. Davis Davis, John B. 135

6 Why is this 'school' called neoclassical economics? Classicism and neoclassicism in historical context / Nuno Ornelas Martins Martins, Nuno Ornelas 149

7 Ten propositions on 'neoclassical economics' / John King King, John 168

8 Neoclassical economics: an elephant is not a chimera but is a chimera real? / Ben Fine Fine, Ben 180

9 The state of nature and natural states: ideology and formalism in the critique of neoclassical economics / Brian O' Boyle Boyle, Brian O', Terrence McDonough McDonough, Terrence 200

10 Heterodox economics, social ontology and the use of mathematics / Mark Setterfield Setterfield, Mark 221

11 Is neoclassical economics mathematical? Is there a non-neoclassical mathematical economics? / Steve Keen Keen, Steve 238

12 Neoclassicism forever / Don Ross Ross, Don 255

13 Reflections upon neoclassical labour economics / Steve Fleetwood Fleetwood, Steve 273.

Notes:

Includes bibliographical references and index.

ISBN:

9781138962071

1138962074

9781138962095

1138962090

OCLC:

919041807