An inexhaustive criticism of the standard economic theory from an Austrian perspective related to growth and development
AbstractThe main purpose of this paper is to underline the downfalls of neoclassical growth theory. The narrow and artificial framework given by the neoclassical economists have no correspondent in real life. With a 'refreshed breath' the Austrian School of Economics tried to explain the dynamic and competitive market process in a constantly changing world. Aspects like time in the decision- making process, imperfect knowledge and the nature of market coordination to the changing circumstances are just some of the many key notions which offered us a different perspective over reality. The ideational contact with the brightest minds which Austrian School of Economics provided, allows us to perceive in a different light the neoclassical judgments.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
Bibliographic InfoArticle provided by Pro Global Science Association in its journal Published in Review of Applied Socio-Economic Research.
Volume (Year): 3 (2012)
Issue (Month): 1 (July)
neoclassic theory; Austrian School of Economics; development; environment;
Find related papers by JEL classification:
- B13 - Schools of Economic Thought and Methodology - - History of Economic Thought through 1925 - - - Neoclassical through 1925 (Austrian, Marshallian, Walrasian, Stockholm School)
- B53 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches - - - Austrian
- O1 - Economic Development, Technological Change, and Growth - - Economic Development
- Q00 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - General - - - General
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Arild Vatn & Daniel Bromley, 1997. "Externalities — A market model failure," Environmental & Resource Economics, European Association of Environmental and Resource Economists, vol. 9(2), pages 135-151, March.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Manuela Epure).
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.