The neoclassical economics theory has proven to be durable and the most popularly taught school of modern-day economics. The theories stressed in neoclassical economic teachings fit like a custom-made glove in a world that is increasingly globalized and democratized. Neoclassical economics theory focuses on the micro and individual level of the market, rather than the [...]
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“The difficulty lies not in the new ideas, but in escaping from the old ones,” wrote British economist John Maynard Keynes in his 1935 text The General Theory of Employment, Interest and Money. “As these old ideas ramify, for those brought up as most of us have been, into every corner of our minds.” Keynes [...] |
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