Wealth and Poverty: Neoclassical Economic Thought and Its Critics

  • Ayman Reda
Part of the Palgrave Studies in Islamic Banking, Finance, and Economics book series (IBFE)


This chapter examines the central role of scarcity in the neoclassical view of wealth and poverty, and the implications of this view with respect to economic theory and policy. The opinions surveyed include those of Karl Menger, Leon Walras, Alfred Marshall, and Lionel Robbins. The chapter also surveys the opinions of some notable critics of the neoclassical paradigm, such as Karl Marx, Henry George, Thorstein Veblen, and John Maynard Keynes.


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Copyright information

© The Author(s) 2018

Authors and Affiliations

  • Ayman Reda
    • 1
  1. 1.EconomicsThe University of Michigan - DearbornDearbornUSA

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