"Marketocentric" Economics Is Obsolete

A. Buzgalin and Andrei Kolganov

Voprosy Ekonomiki, 2004, issue 3

Abstract: The "marketocentric" economic theory is now dominating in modern science (similar to Ptolemeus geocentric model of the Universe in the Middle Ages). But market economy is only one of different types of economic systems which became the main mode of resources allocation and motivation only in the end of the 19th century. Authors point to the necessity of the analysis of both pre-market and post-market relations. Transition towards the post-industrial neoeconomy requires "Copernical revolution" in economic theory, rejection of marketocentric orientation, which has become now not only less fruitful, but also dogmatically dangerous, leading to the conservation and reproduction of "market fundamentalism".

Date: 2004
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Persistent link: https://EconPapers.repec.org/RePEc:nos:voprec:y:2004:id:1867

DOI: 10.32609/0042-8736-2004-3-36-49

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