New Classical Economics: Towards A New Paradigm For Economics?
AbstractWe discuss the emerging field of New Classical economics from the perspective of some classical economic questions regarding the generation of wealth. We limit our discussion to the foundations of the emerging field and do not provide a complete overview of the details of the literature. We first discuss the foundational hypotheses of New Classical economics. We identify some problems with some basic concepts in its structure and suggest some avenues to amend and enhance this emerging field. We conclude that there are significant synergies with the field of evolutionary or Darwinian game theory to warrant the claim that New Classical economics could form part of the foundation of a newly emerging paradigm in economic theory.
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Bibliographic InfoArticle provided by World Scientific Publishing Co. Pte. Ltd. in its journal Division of Labor & Transaction Costs.
Volume (Year): 01 (2005)
Issue (Month): 01 ()
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- C62 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Existence and Stability Conditions of Equilibrium
- D - Microeconomics
- E1 - Macroeconomics and Monetary Economics - - General Aggregative Models
- F - International Economics
- F11 - International Economics - - Trade - - - Neoclassical Models of Trade
- F12 - International Economics - - Trade - - - Models of Trade with Imperfect Competition and Scale Economies; Fragmentation
- F16 - International Economics - - Trade - - - Trade and Labor Market Interactions
- J2 - Labor and Demographic Economics - - Demand and Supply of Labor
- J3 - Labor and Demographic Economics - - Wages, Compensation, and Labor Costs
- L - Industrial Organization
- O - Economic Development, Technological Change, and Growth
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- Robert P. Gilles & Emiliya Lazarova & Pieter H. M. Ruys, 2006.
"On Socio-Economic Roles And Specialisation,"
Economic Papers, The Economic Society of Australia,
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- Robert P. Gilles & Emiliya A. Lazarova & Pieter H. M. Ruys, 2007.
"Stability, Specialization And Social Recognition,"
Division of Labor & Transaction Costs (DLTC), World Scientific Publishing Co. Pte. Ltd.,
World Scientific Publishing Co. Pte. Ltd., vol. 2(02), pages 83-109.
- Gilles, R.P. & Lazarova, E.A. & Ruys, P.H.M., 2006. "Stability, Specialization and Social Recognition," Discussion Paper, Tilburg University, Center for Economic Research 2006-17, Tilburg University, Center for Economic Research.
- Robert P. Gilles & Emiliya Lazarova & Pieter H.M. Ruys, 2006. "On Socio-economic Roles and Specialization," Tinbergen Institute Discussion Papers 06-035/2, Tinbergen Institute.
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