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 ...

This dominant neoclassical paradigm defines what counts as economics, and who counts as an economist. Anyone not sharing these assumptions is often deemed not to be an economist.

In fact, the emphasis on teaching neoclassical economic theory in American business schools over the last four decades is largely responsible for its supremacy in the U.S. business community today.

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 ...

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 ...

John Facella’s inspirational column, “Patriotism not limited to one party, so stop throwing stones,” May 1, led me to read the recommended conservative icon Thomas Sowell, who asked, “What ...

Neoclassical economic theory suggests that sustainable economic growth is achieved by effectively managing three key factors: labor, capital, and technology.

Today’s neoclassical economics focuses on growth at all cost, relying on the trickledown theory to indirectly lift the impoverished masses in the long run. This does not inspire much hope!

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 ...

The newly established Center for Heterodox Economics aims to reimagine how we measure economic progress using a more human-centered approach.