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The economic system of the United States approximates the Neoclassical
paradigm. Its structure, its aspirations and values, its problems are
easily analyzed in the context of that paradigm. When problems arise, and
it is necessary to predict the outcomes of alternate policies, the
Neoclassical paradigm is both politically and pragmatically correct. That
is why the Neoclassical paradigm is dominant in the United States.
If one wanted to analyze the very long run factors in the evolution of the
United States economy, one would not turn to the Neoclassical paradigm.
The demand for economists, however, depends more on the need for policy
analysis than on the need for disinterested historical analysis.
Robin Neill
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