12 Aug How does what these three economists say differ from neoclassical economic theory?
- Focussing on methodological approaches and underlying assumptions, describe and explain the main differences between mainstream economic theory and alternative approaches. Give examples from any heterodox school with which you are familiar. To what extent do the conditions which pertained at the time such theories were developed, explain the differences between them?
- Read: Reinert, E, 2013, Civilizing capitalism: “good” and “bad” greed from the enlightenment to Thorstein Veblen (1857-1929), Real-World Economics Review 63: 57-72 a) What are “good” and “bad” greed? What is the relevance of these ethical concepts? b) What common points are there between this article, Mazzucato’s book (used as a textbook for this course) and Hudson’s article (used as Tutorial material)? c) How does what these three economists say differ from neoclassical economic theory?
