1st Edition

Late Neoclassical Economics The restoration of theoretical humanism in contemporary economic theory

By Yahya M. Madra Copyright 2017
218 Pages 1 B/W Illustrations
by Routledge

218 Pages 1 B/W Illustrations
by Routledge

218 Pages 1 B/W Illustrations
by Routledge

Several contemporary economic theories revolve around different concepts: market failures, institutions, transaction costs, information asymmetries, motivational diversity, cognitive limitations, strategic behaviors and evolutionary stability. In recent years, many economists have argued that the increase in circulation and mobilization of these new and heterogeneous concepts and their associated... Read more

Part 1: Introduction

Chapter 1: Introduction: Making Sense of an Emergent Heterogeneity

Chapter 2: Towards an anti-essentialist Marxian critique of theoretical humanism

Part 2: Neoclassical Economics: Under the Shadow of Structuralism

Chapter 3: Neoclassical Economics: Shedding "psychologism"

Chapter 4: Theoretical humanism in crisis: The case of Walrasian economics in the post-war period

Chapter 5: Theoretical humanism in the evolutionary mode: The case of the Chicago School in the post-war period.

Part 3: Late Neoclassical Economics: Restoration of Theoretical Humanism

Chapter 6: Breaking with Neoclassicism or Restoring Theoretical Humanism?

Chapter 7: Market Failures and Economic Institutions: Opening Black Boxes and Introducing Meta-Markets

Chapter 8: Motivational Diversity and Cognitive Limitations: Saving the human subject from its structuralist destitution

Chapter 9: Equilibrium and Efficiency: Searching for Social Reconciliation in Game Theoretic Contexts

Part 4: Conclusion

Chapter 10: Epilogue: The Real Divide in Economics

Biography

Yahya M. Madra teaches Economics at Boğaziçi University, Istanbul, Turkey. He has published and co-authored articles on various issues in political economy in both edited book volumes and journals.

'Late neoclassical economics may be more mature than neoclassical economics, but it is not different from neoclassical economics as it has been practiced before...Madra succeeds in presenting a very clear and concise thesis which is highly relevant and interesting. His argumentation is straightforward, convincing and precise. The leitmotiv of the investigation never gets lost.' - Thomas Domjahn, History of Economics Review