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Fri Mar 31 17:18:31 2006 |
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----------------- HES POSTING -----------------
Referring to Pat's view on opportunity cost as the dividing line
(classical-neoclassical), if this interpretation is right we have to
conclude that Walras, Pareto or Fisher were not neoclassical or among the
founders of the neoclassical paradigm, because none of them considered the
concept of opportunity cost as the central category in their system: I
would prefer to consider neoclassical economics as a bundle of a few
methodological elements, where opportunity cost was only an element;
otherwise we must deduce that the Austrian version of neoclassical
economics became the mainstream in neoclassical economics: but this is not
the case, if we consider Arrow, Bedreu, Samuleson, Hicks, Allen as leaders
representative of neoclassical economics in XX century.
Luigino Bruni
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