Abstract
The reliance of Neoclassical economists on mathematics as their primary form of discourse induces them to impose equilibrium analysis on every scenario rather than accepting the type of pragmatic, bounded determinacy suggested by Smith and modern statistical analysis. When reality unavoidably fails to match this theoretical ideal, the innate tendency is to advocate policies and legal parameters that impose the requisite perfectly competitive behavioral conditions on the scenario instead of designing policies that reflect actual human behaviors and social structures.
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Bibliography
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Johnson, R.D. (2017). Understanding Markets. In: Rediscovering Social Economics. Perspectives from Social Economics. Palgrave Macmillan, Cham. https://doi.org/10.1007/978-3-319-51265-5_7
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DOI: https://doi.org/10.1007/978-3-319-51265-5_7
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