The Evolving Dialogue

Roger D. Johnson

Chapter Chapter 13 in Rediscovering Social Economics, 2017, pp 165-173 from Palgrave Macmillan

Abstract: Abstract The ruling Neoclassical paradigm with its focus on equilibrium analysis and autonomous human decision-making has distracted the discipline from understanding and addressing the most crucial issues facing modern society. Its behavioral and embedded but unacknowledged moral assumptions have helped to create an unrealistic understanding of human society and frequently fostered counterproductive policy prescriptions. Fortunately, a new generation of economists has emerged to challenge the Neoclassical paradigm and perhaps return the discipline to the broader social and philosophical roots of the discipline as epitomized by Adam Smith.

Keywords: Real Wage; Market Equilibrium; Neoclassical Economist; Universal Health Care; Perfect Competition (search for similar items in EconPapers)
Date: 2017
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Persistent link: https://EconPapers.repec.org/RePEc:pal:pfschp:978-3-319-51265-5_13

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DOI: 10.1007/978-3-319-51265-5_13

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