Tuesday, February 18, 2014

On Marginalism Versus Neoclassical Economics



In a recent post by NK, (see here), it was mentioned that when teaching macroeconomics, especially from a heterodox perspective, "one and has to deal, as always, with the confusion generated by all manuals (to a great extent Keynes' fault for using the term classical for everybody that came before him) between the old classical political economy tradition and the marginalist (or neoclassical, other misnomer, this one Veblen's fault) school." Perhaps the paper by Tony Lawson, "What is this 'school' called neoclassical economics" (see here, subsciption required), and "Sraffa and his arguments against marginism," by Maria Christina Marcuzzo and Annalisa Roselli (see here, subscription required), can be of assistance... 

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