Between the Mid-1970s and the Great Recession: The Rise and Fall of New Neoclassical Economics. Final Remarks

Roberto Marchionatti ()
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Roberto Marchionatti: University of Turin, Campus “Luigi Einaudi”, Department of Economics and Statistics

Chapter Chapter 7 in Economic Theory in the Twentieth Century, An Intellectual History—Volume IV, 2025, pp 221-224 from Springer

Abstract: Abstract This brief chapter summarizes the overarching trajectory of economic theory from the mid-1970s to the first decade of the new millennium, from the attempt to reconstruct macroeconomic theory through Lucas’s New Classical Macroeconomics program until the decline of the New Neoclassical Synthesis in the early 2000s, under mounting criticism from alternative paradigms.

Keywords: New neoclassicism in economic theory; Keynesian Reaction; Non-Neoclassical Research Programs; Decline of neoclassical economic theory; Post-Neo-Walrasian turn. (search for similar items in EconPapers)
Date: 2025
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-3-032-06201-7_7

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DOI: 10.1007/978-3-032-06201-7_7

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