Volume 20, Issue 1 (4-2015)
JPBUD 2015, 20(1): 161-192 |
Back to browse issues page
Download citation:
BibTeX | RIS | EndNote | Medlars | ProCite | Reference Manager | RefWorks
Send citation to:
BibTeX | RIS | EndNote | Medlars | ProCite | Reference Manager | RefWorks
Send citation to:
Mashhadiahmad M. (2015). Neoclassical Economics A different historical narration. JPBUD. 20(1), 161-192.
URL: http://jpbud.ir/article-1-964-en.html
URL: http://jpbud.ir/article-1-964-en.html
University of Tehran , mmashhadi@ut.ac.ir
Abstract: (9201 Views)
How was the term "Neoclassical Economics" introduced to economics and what thoughts does it indicate? Does the current use of this term conform with the original efforts of the founders of it? These are among the questions which have always drawn the attention of economists. The term "Neoclassical Economics" was primarily introduced to the modern economics by Veblen. What he meant by it was the marginalistic thoughts of late 19th century and early 20th century.
Marginalists resorted to subjective preferences in order to escape from the theory of objective value of Classics. They had hoped to make the foundations of economics more scientific by putting objective value aside. Despite the early developments, the efforts became so abstract after a while that could be considered anything but a theory about human behavior. By reviewing the scientific existence of neoclassic economics in this paper, we will show how this school of thought was formed, what were its characteristics and what it became during the time. We will also show that the founders of this school of thought, despite what is mainly believed, didn't have an anti-historical and anti-institutional approach.
Type of Study: Research |
Received: Mar 10 2014 | Accepted: Dec 15 2015 | ePublished: Dec 15 2015
Received: Mar 10 2014 | Accepted: Dec 15 2015 | ePublished: Dec 15 2015
| Rights and permissions | |
.jpg) |
This work is licensed under a Creative Commons Attribution 4.0 International License. |
