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On Mon, 11 Aug 1997 16:39:34 -0500 (EST) andrew kliman 
<[log in to unmask]> wrote: 
 
> The discussion of "the neoclassical position" concerning 
self-interest raises 
> what is, for me at least, an interesting problem:  What makes a position 
> (theory, model, etc.) neoclassical? 
 
This is a question about the use of a word. Such questions don't 
have to have a clear answer. For example, give me a simple definition of 
'Pacific rim cooking' or 'liberalism'. 
 
It is rare for economists to define themselves as 'neoclassical' - mostly 
they just think they are doing economics. The term is most often used by 
Marxists, post-Keynesians, etc. as a term of abuse. When used in this 
way it is not often defined clearly. The implicit definition is often 
absurd - something like 'the belief that perfect competition, 
full information, general equilibrium models describe reality and that 
outcomes are always Pareto optimal provided governments do nothing', 
a belief that no-one has ever held. This usage can be ignored by serious 
people. 
 
I prefer to say 'mainstream', because that implies something vague and 
changing. There is no doubt that the majority of economists share a 
toolkit and a set of ways of tackling problems, but they use them 
in varied ways, which change over time. The reality is vague and 
changing. 
 
'Neoclassical' might be a useful term among historians of economics 
(though I think it may be irredeemably contaminated with irrelevant 
overtones) but its meaning must be explained when it is used, since it 
(clearly) doesn't have a single agreed meaning. How it functions in any 
particular historical interpretation is likely to depend heavily 
on the overall framework of analysis used. Best to avoid the word. 
---------------------- 
Tony Brewer ([log in to unmask]) 
University of Bristol, Department of Economics 
8 Woodland Road, Bristol BS8 1TN, England 
Phone (+44/0)117 928 8428 
Fax (+44/0)117 928 8577 
 
 
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