It is easy to take potshots at the field of economics today, whether motivated by the financial crisis or the fact that Nobel laureates, such as economist and New York Times columnist Paul Krugman, ...

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 ...

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 ...

The 19th-century creators of neoclassical economics—the theory that now serves as the basis for coordinating activities in the global market system—are credited with transforming their field into a ...

At the heart of neoclassical economic theory is its fundamental unit of analysis, the rational actor. This individual, it is purported, behaves in a manner that maximises their utility: a series of ...

15 February 2008 For the 25 years, the so-called "Washington Consensus" - comprising measures aimed at expanding the role of markets and constraining the role of the state - has dominated economic ...

Discover how monetary theory influences economic activity through money supply changes, with insights on central bank ...

Steve Keen's latest book is succinct and wide-ranging. This book provides a clear direction for economics. Meaningful macroeconomic models must be based on reality. Equilibrium for modeling nonlinear, ...