How does it differ from the classical and austrian school and are there any e-documents that can be linked to that have some information on the school?

Student can definitely correct me so let me hazard some guesses: the concept of indifference AS/AD curves in determining macroeconomic equilibrium neutrality of money subjectivity of value positivism and/or mathematical logic Depressions either as a fall in AD or simply as a result of changes …

@fakename Why did you include subjectivity of value? Most neoclassical economists acknowledge that value is subjective. They just don’t constantly harp on it like Austrians. Edit: Also, why did you include in the assumption of rationality? Austrians assume this too, they just call it acting to ach…

I don’t believe the assumption of rationality is the same.

I’ve always understood it (and this is how I learned it in my undergrad econ classes) that humans are rational in so far that they act to maximize the present value of their expected utility. I don’t really see how this is majorly different from Austrian economists (other than using different termin…

That seems to represent part of the Austrian connection. Hence at least as far as ends go, the person may be motivated to commit actions based on a past expected utility(in Austrian terms, according to his past value scale), which do not match his current one, and thereby realising he commited a mi…

Nir, your second link strikes my fancy with that paper by De soto. :smiley:

I never get enough of recomending How Markets Work by Israel Kirzner. Before reading this I had never really thought about the assumptions that lay behind those demand & supply curves. All of it is good but part three probably anwsers the last part of your question most directly. The whole paper is …

well, i wonder if it wouldn’t be useful to clarify what exactly we are interested in. specifically, are we interested in discussing “neoclassical economics” or “mainstream economics”? if we are talking about neoclassical exclusively, then I think this desc from the cee works well: Neoclassical eco…

I know how Bastiat and Hazlitt defined bad economics, how do you define bad economics?

What are the core claims of the neo-classical school?

Economics Economics Questions

nirgrahamUK September 18, 2010, 12:29pm 2

https://forum.freecapitalists.org/t/austrian-vs-neoclassical-axioms/8729

https://forum.freecapitalists.org/t/points-of-contention-austrian-v-neoclassical/6301

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What are the core claims of the neo-classical school?

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