The Neoclassical Synthesis in Crisis

James Ronald Stanfield
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James Ronald Stanfield: Colorado State University

Chapter 3 in Economics, Power and Culture, 1995, pp 30-48 from Palgrave Macmillan

Abstract: Abstract This chapter provides an institutionalist analysis and diagnosis of the current crisis of orthodox economics. We shall, first, characterize the predominant opinion in economics — the neoclassical synthesis. Next, we examine the anomalies which are currently vexing orthodox opinion and their sufficiency to provoke a period of crisis and extraordinary science. In the final section, we diagnose the source of the anomalies of the neoclassical synthesis.

Keywords: Full Employment; Current Crisis; Structural Anomaly; Economic Thought; Anomalous Area (search for similar items in EconPapers)
Date: 1995
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-349-23712-8_3

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DOI: 10.1007/978-1-349-23712-8_3

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