For more than a century, neoclassical theory dominated economic thinking. Neoclassical economics is a theory based on three key assumptions: individuals have rational preferences; individuals maximize ...

The Journal of Economic Perspectives (JEP) attempts to fill a gap between the general interest press and most other academic economics journals. The journal aims to publish articles that will serve ...

Discover the concept of homo economicus, its origins, and why it's essential in economics. Explore its rational decision-making model and its limitations today.

The pressures for the privatization of public services over the last 30 years are the reaction to the perceived excesses, inefficiencies, and inadequacies of public provision. They drew strength from ...

This thesis critiques neoclassical economic theory. In each chapter, with the exception of the last two, I will examine a different neoclassical theory and reveal its lack of realism, and how said ...

Steve Keen is a fellow contributor here at Forbes so this isn't a declaration of all out jihad upon his ideas. Rather, it's to show that one of his contentions about economics and the economy might ...

In the course of its history, the Department of Economics at The New School for Social Research has taken a broad and critical approach to the field, giving voice to classical political economy, ...

In its early days, behavioral economics was focused on documenting human deviance from rational action. It began as a challenge to the mainstream neoclassical economics model, which assumes people are ...

Like many students in the Economics Department at The New School for Social Research, Ebba Boye and Ingrid Kvangraven want to widen the lens through which we examine economies. Their approach to ...