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Prophecy, Piety, and Profits pp 161–170Cite as

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Wealth and Poverty: Neoclassical Economic Thought and Its Critics

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Abstract

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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Authors and Affiliations

  1. Economics, The University of Michigan - Dearborn, Dearborn, MI, USA

    Ayman Reda

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  1. Ayman Reda
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Reda, A. (2018). Wealth and Poverty: Neoclassical Economic Thought and Its Critics. In: Prophecy, Piety, and Profits. Palgrave Studies in Islamic Banking, Finance, and Economics. Palgrave Macmillan, New York. https://doi.org/10.1057/978-1-137-56825-0_12

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  • DOI: https://doi.org/10.1057/978-1-137-56825-0_12

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  • Publisher Name: Palgrave Macmillan, New York

  • Print ISBN: 978-1-137-56824-3

  • Online ISBN: 978-1-137-56825-0

  • eBook Packages: Economics and FinanceEconomics and Finance (R0)

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