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The Classical and Neoclassical theoretical traditions and the evolutionary study of the dynamics of globalization

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  • Charis VLADOS

    (Department of Economics, Democritus University of Thrace, Komotini, Greece)

Abstract

This article aims to present the theoretical foundations of the classical political economy through the contributions of Adam Smith and David Ricardo and to find out how their neoclassical followers interpreted, evaluated, and transformed this classical theoretical basis. Specifically, we analyze from a critical point of view the neoclassical interpretation of globalization by arguing that this theorization is probably insufficient in analytical terms. We conclude that an analytical counterproposal for the relative explanatory insufficiencies of the neoclassical synthesis is based on the modern evolutionary approach of globalization.

Suggested Citation

  • Charis VLADOS, 2019. "The Classical and Neoclassical theoretical traditions and the evolutionary study of the dynamics of globalization," Journal of Economics and Political Economy, EconSciences Journals, vol. 6(3), pages 257-280, September.
    • Handle: RePEc:cvv:journ1:v:6:y:2019:i:1:p:257-280
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    Cited by:

    1. Charis VLADOS, 2019. "Notes on the main analytical insufficiencies of the Marxist theoretical tradition for the comprehension of the contemporary global economy," Journal of Economic and Social Thought, EconSciences Journals, vol. 6(3), pages 132-155, September.

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    Keywords

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    JEL classification:

    • B12 - Schools of Economic Thought and Methodology - - History of Economic Thought through 1925 - - - Classical (includes Adam Smith)
    • F11 - International Economics - - Trade - - - Neoclassical Models of Trade
    • B52 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches - - - Historical; Institutional; Evolutionary; Modern Monetary Theory;

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