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 ...

This thesis critiques neoclassical economic theory. In each chapter, with the exception of the last two, I will examine a different neoclassical theory and reveal its lack of realism, and how said ...

Regional political economy is an approach to economic geography that can transcend the current dualism of a new neoclassical economic geography and a new cultural economic geography. We apply this ...

In a classic case of ‘they would say that, wouldn't they?’, economic textbook authors McTaggart, Findlay and Parkin have recently defended economics from the criticism that it failed in not predicting ...

Economist Ha-Joon Chang explains why the school of Neoclassical economics that rose in the 19th/early 20th century – now today’s dominant school of economics – decided they wanted to be scientists.

A simple idea from game theory could yet upset the sacred tenants of neoclassical economics. This articles explores the implications for the theory of distribution and Keynes's theory of effective ...

This article presents a new model for estimating the spatial representation of objects and preference vectors from actual choice behavior of individuals or households. It is based on neoclassical ...

Adam Hayes, Ph.D., CFA, is a financial writer with 15+ years Wall Street experience as a derivatives trader. Besides his extensive derivative trading expertise, Adam is an expert in economics and ...