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Homer: A Forerunner of Neoclassical Economics [PDF]

SSRN Electronic Journal, 2015
Homer clearly expressed the economic problem of choosing the best option among several alternatives given a certain set of restrictions. In the Odyssey he specifically wrote about the minimum cost choice. This kind of problem, as is well known, is at the heart of the neoclassical economics. We can therefore consider Homer a forerunner of this school of
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The Post Covid-19 Reality and Economic Theory

Mednarodno Inovativno Poslovanje, 2020
This paper examines interconnectedness between Covid-19 and six nested subsystems of our planet: people, economy, society, anthroposphere, biosphere and planetosphere.
Zoran Trputec, Nataša Šantić
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Sensitivity analysis of an integrated climate-economic model [PDF]

arXiv, 2021
We conduct a sensitivity analysis of a new type of integrated climate-economic model recently proposed in the literature, where the core economic component is based on the Goodwin-Keen dynamics instead of a neoclassical growth model. Because these models can exhibit much richer behaviour, including multiple equilibria, runaway trajectories and ...
arxiv  

The Opportunity Costs of Neoclassical Economics

Journal of Philosophical Economics, 2023
The notion of "opportunity cost" has been neglected in economics. The reason is that any such measure of cost is invisible, unobservable, and untestable. Yet the so-called 'competitive ideal' in neoclassical theory is based on claims of decreasing returns and substitutional tradeoffs in production, consumption and social relations, and therewith an ...
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Is, Could Be or Will Be There Globalisation Economics?

Theory, Methodology, Practice, 2002
In the globalising world economy the framework of neoclassical economics is more and more elusive. Such basics of neoclassical economics are being questioned - like the corporation personified by the rational decision maker, the idea that macro economy ...
László Tóth
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UNIFORMITY ASSUMPTIONS AND THE MUSGRAVE MÄKI-HINDRIKS DEBATE [PDF]

Innovative Issues and Approaches in Social Sciences, 2013
In this paper I address the problem of the unrealisticness of assumptions in neoclassical economics . Being accused of using highly unrealistic assumptions in its models, neoclassical economics replied through what later was called the F-twist.
Mihai Ungureanu
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What Behavioural Economics Has to Say about Financial Literacy

Applied Finance Letters, 2013
Gaps in financial literacy are arguably responsible for significant errors in decision-making by consumers and investors alike. Unlike the conventional neoclassical economic wisdom, behavioral economics opens the analytical door to the significance of ...
Morris Altman
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How Covid-19 Pandemic Changes the Theory of Economics? [PDF]

arXiv, 2020
During its history, the ultimate goal of economics has been to develop similar frameworks for modeling economic behavior as invented in physics. This has not been successful, however, and current state of the process is the neoclassical framework that bases on static optimization.
arxiv  

Ekonomia neoklasyczna versus ekonomia behawioralna. Libertariański paternalizm a reforma emerytalna

Annales Etyka w Życiu Gospodarczym, 2019
The goal of the article is to criticise neoclassical economics from the behavioural economics perspective on the example of Poland’s reform of the retirement system (the possibility of earlier retirement).
Aleksander Ostapiuk
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A közgazdaságtan elfeledett fogalmai: föld és járadék a 21. században

Modern Geográfia, 2018
According to several models in modern neoclassical economics the two major factors of production are labor and capital. This seemingly useful simplification is the innovation of neoclassical economics: thinkers of the 18-19th century considered land as a
Oláh, Dániel
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