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Date: | Fri Mar 31 17:18:22 2006 |
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======================= HES POSTING =================
I would accept Lionel Robbins's economics, as set out in AN ESSAY
ON THE NATURE AND SIGNIFICANCE OF ECONOMIC SCIENCE, as Neoclassical
Economics. But, of course, the term was coined by Veblen, and Veblen was
referring to the "marginalists" of the late nineteenth century, who were
refining the discipline in response to attacks by the Historical School
of Economics.
Neoclassical Economics: Value in exchange, and methodological
individualism.
Since Robbins the discipline has been put to service in
approaching special topics, and bolstering special policy positions. This
has added material to Neoclassical Economics. The discipline, itself, has
not progressed. It has been mathematized, and used in emperical tests;
sometimes by practictioners who are not fastideous about fine points in
theory; but the discipline, itself, has not progressed.
Robin Neill.
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