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Toward Global Neoclassical Economics: A Critical Point of View

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  • Atanas P. Atanasov

    (University of National and World Economy, Sofia, Bulgaria)

Abstract

The following remarks aim to present a relatively critical view on the prospects of the globalization of the Neoclassical Research Programme, focusing on the Expected Utility Model (EUM). This model represents the methodology of the programme after World War Second (WW2). As a result its evolution in the decades after WW2 and especially in the last two decades have come to serve as a benchmark for the evaluation of the dynamics and prospects in the development of the dominating Neoclassical economics, including its globalization. Globalization, or the establishment of the so-called Global economics, are terms that imply internationalization, global positioning and the application of leading contemporary economics, that is Anglo-Saxon economics, which is officially operating in the developed economies and throughout the world, no matter whether it is referred to as Mainstream economics or Neoclassical economics. The so-called Global economics has the distinguishing features of the neoclassical theoretical economics, namely axiomatization, formalism, and modeling.

Suggested Citation

  • Atanas P. Atanasov, 2013. "Toward Global Neoclassical Economics: A Critical Point of View," Economic Alternatives, University of National and World Economy, Sofia, Bulgaria, issue 2, pages 21-31, April.
    • Handle: RePEc:nwe:eajour:y:2013:i:2:p:21-31
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    Keywords

    Global Neoclassical Economics;

    JEL classification:

    • F00 - International Economics - - General - - - General

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