Basic Economic Theory in Bulgarian Universities: Monopolism or Pluralism?

Vasil Todorov
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Vasil Todorov: Economic Research Institute At BAS, Sofia, Bulgaria

Ikonomiceski i Sotsialni Alternativi, 2019, issue 1, 108-127

Abstract: Since the beginning of the ÕÕI century, neo­classical economics has had a monopolistic dominance in scientific space and universities in Bulgaria, Europe and worldwide. In Western countries its monopoly was established after World War II, and in the former socialist coun­tries – during the 1990s. Still, neoclassicism does not manage to provide a convincing un­derstanding of economic reality. Therefore, it has been subjected to criticism for decades, which became particularly stronger in relation to the 2007-2009 financial crisis. The situation in higher education is peculiar: we are facing a monopoly, belonging to a theory which is inad­equate to reality. The way out of this situation is to replace monopoly with pluralism in the teach­ing of economic theory.

Keywords: criticism of neoclassical economics; monopoly in economic theory; pluralism in economic theory; economic theory in higher education (search for similar items in EconPapers)
JEL-codes: A10 A20 B50 (search for similar items in EconPapers)
Date: 2019
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Persistent link: https://EconPapers.repec.org/RePEc:nwe:iisabg:y:2019:i:1:p:108-127

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