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Quo Vadis Neoliberalism: A Carefrontation of Veblen, Keynes, and Marx

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  • Pınar KAHYA AYDIN

Abstract

Neoliberalism is still main reference point of economic thought in economics departments of universities and hegemonic ideology of policy makers although it comes in harsh criticisms for policy outcomes particularly deepening global inequality from wide range of scholars, journalists and even some policy networks especially after 2008-9 financial crisis. These criticisms are meaningful in terms of questioning neoliberal hegemony even so the motto of neoliberalism which is “there is no alternative†has not been responded as “nope, there is an alternative†yet at least as a counter hegemonic position for global political and economic system. The article sets out to formulate the need of going beyond criticisms and creating a reference toolbox kit to face with neoliberal hegemony. Is it possible to create an alternative method of thought in economics via eliminating deficiencies of particular schools of thought? In particular, is it possible to create a holistic response from different schools of non-mainstream economics focusing on neoliberalism as a concrete case for objection? The answer is yes. In this study, three different schools of economic thought, evolutionary institutionalism, Keynesianism and Marxism are mutually considered and the theoretical possibility of a holistic opposition in different levels is affirmed in a way of their stances in against neoliberalism.

Suggested Citation

  • Pınar KAHYA AYDIN, 2023. "Quo Vadis Neoliberalism: A Carefrontation of Veblen, Keynes, and Marx," Fiscaoeconomia, Tubitak Ulakbim JournalPark (Dergipark), issue 1.
    • Handle: RePEc:fis:journl:230130
    DOI: 10.25295/fsecon.1172538
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    References listed on IDEAS

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    1. Quentin Duroy, 2016. "Thinking Like a Trader: The Impact of Neoliberal Doctrine on Habits of Thought," Journal of Economic Issues, Taylor & Francis Journals, vol. 50(2), pages 603-610, April.
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    More about this item

    Keywords

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    JEL classification:

    • B20 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925 - - - General
    • D63 - Microeconomics - - Welfare Economics - - - Equity, Justice, Inequality, and Other Normative Criteria and Measurement
    • G01 - Financial Economics - - General - - - Financial Crises
    • P16 - Political Economy and Comparative Economic Systems - - Capitalist Economies - - - Capitalist Institutions; Welfare State

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