The Neoclassical Synthesis in Crisis
This chapter provides an institutionalist analysis and diagnosis of the current crisis of orthodox economics. We shall, first, characterize the predominant opinion in economics — the neoclassical synthesis. Next, we examine the anomalies which are currently vexing orthodox opinion and their sufficiency to provoke a period of crisis and extraordinary science. In the final section, we diagnose the source of the anomalies of the neoclassical synthesis.
KeywordsFull Employment Current Crisis Structural Anomaly Economic Thought Anomalous Area
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