Naslov
Economic Theory at Cross-Road: Dead End of Neoclassical Economics

Autori
Stojanov, Dragoljub

Izvornik
GSTF journal on business review (2010-4804) 1 (2012), 3; 62-68

Vrsta, podvrsta i kategorija rada
Radovi u časopisima, članak, znanstveni

Ključne riječi
crisis ; economic theory ; deception ; ideology

Sažetak
The recent financial and economic crisis of the world has definitely brought into question the validity of neo-classical economic paradigm. In this Paper, the continued validity and relevance of the whole Economic Theory for the world economy including that of the neo- classical approach are questioned. The main subject of the world economy has become one of Transnational Corporation, which in such a capacity has the potential to replace Nation State. Cutting-edge technology in the possession of TNC does not allow renewal of national economic policies whether be those of protectionist or Keynesian approaches. Economics as found in standard textbooks is based on the principle of diminishing returns. In this context, the entire field of microeconomics and along with macroeconomics begs to be reconsidered from the point of view of increasing return and open world economy

Izvorni jezik
Engleski

Znanstvena područja
Ekonomija

POVEZANOST RADA