Economist Ha-Joon Chang says there are political assumptions in any economic theory; what makes Neoclassical economics different is that its proponents will tell you that their analysis is objective, ...

For more than a century, neoclassical theory dominated economic thinking. Neoclassical economics is a theory based on three key assumptions: individuals have rational preferences; individuals maximize ...

The Eastern Economic Journal, a quarterly publication of the Eastern Economic Association, was established in 1973. The EEJ publishes papers written from every perspective, in all areas of economics ...

With its fixation on equilibrium thinking and an exclusive focus on market factors that can be precisely measured, the neoclassical orthodoxy in economics is fundamentally unequipped to deal with ...

15 February 2008 For the 25 years, the so-called "Washington Consensus" - comprising measures aimed at expanding the role of markets and constraining the role of the state - has dominated economic ...

Like many students in the Economics Department at The New School for Social Research, Ebba Boye and Ingrid Kvangraven want to widen the lens through which we examine economies. Their approach to ...

Forbes contributors publish independent expert analyses and insights. I am a physician and behavioral scientist at Duke University. This article is more than 10 years old. In what academics call ...

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Economist Ha-Joon Chang explains why the school of Neoclassical economics that rose in the 19th/early 20th century – now today’s dominant school of economics – decided they wanted to be scientists.