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The Neoclassical Marxists

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  • Hasan GÜRAK
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    Abstract

    In the contemporary economic literature and academic environments, one encounters increasing interest in the role assigned to human skills and new technologies to interpret economic incidents and formulate viable development policies. In other words, there seems to be a shift in interest from unrealistic assumptions and mechanical relations of interactive robots i.e., homoeconomicus, in an artificially created world to “real” economics as it operates. Unfortunately, because of the worldwide ideological dominance of the sophisticated Neoclassical economic models, many attempts take place within the same ideological framework, just as in the case of Lucas and Romer. The “Holy Ground and the Foundation Stones” of the doctrine are hardly questioned. Being loyal disciples of the dominant ideology, Lucas and Romer introduced two new approaches independently to the economic growth with educated human resources (human capital, as they call it) at the core of analysis. Overlooking the mechanical and unrealistic relations in the respective models, the striking common feature is the major role attributed to human resources. And this “striking” common feature leads to a “striking” resemblance, not only to one another, but rather to Marx, the great ideological enemy of the Neoclassical doctrine. Lucas and Romer seem to be “latent” Marxists.

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    Bibliographic Info

    Paper provided by EconWPA in its series General Economics and Teaching with number 0309004.

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    Date of creation: 24 Sep 2003
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    Handle: RePEc:wpa:wuwpgt:0309004

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    Keywords: Labor; Human Capital; Marx; Lucas; Romer;

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    1. Lucas, Robert Jr., 1988. "On the mechanics of economic development," Journal of Monetary Economics, Elsevier, vol. 22(1), pages 3-42, July.
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