Benjamin Cain
Nov 23, 2022

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What is it, then, that's called "neoclassical economics" that's still dominant today and that connects the current paradigm to earlier neoclassical economics? The mere use of math?

No, it's that "Neoclassical economics is a broad theory that focuses on supply and demand as the driving forces behind the production, pricing, and consumption of goods and services."

And "this economic theory states that competition leads to an efficient allocation of resources within an economy. The forces of supply and demand create market equilibrium.

"In contrast to Keynesian economics, the neoclassical school states that savings determine investment. It concludes that equilibrium in the market and growth at full employment should be the primary economic priorities of government."

https://www.investopedia.com/terms/n/neoclassical.asp

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Benjamin Cain
Benjamin Cain

Written by Benjamin Cain

Ph.D. in philosophy / Knowledge condemns. Art redeems. / https://benjamincain.substack.com / https://ko-fi.com/benjamincain / benjamincain8@gmailDOTcom

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