Neo‐Classical Economics: Relevance, Irrelevance and Rugina's Methodology

Abstract

Today much of economic theory, particularly microeconomic theory, rests on neo‐classical foundations. Through a consideration of neo‐classical concepts, one can reassess current economic thought. This may support the view that relevant advances in economic thought have taken place or (in the light of Professor Anghel Rugina's research and observations) may result in doubt about the basis and direction of current economic thought, especially in macroeconomics. However, Rugina's contribution goes further for he asks us to consider matters from a different perspective to that of both classical and modern economics and create a Third Revolution in economic thought.

Citation

Tisdell, C. (1987), "Neo‐Classical Economics: Relevance, Irrelevance and Rugina's Methodology", International Journal of Social Economics, Vol. 14 No. 3/4/5, pp. 37-49. https://doi.org/10.1108/eb014045