The Neoclassical, Neoliberal Dogma
Subject: Economics / General Economics
Question
Read chapter 5, "The Neoclassical/Neoliberal Dogma," and chapter 6, "A Radical Economic Perspective," from Naming the System: Inequality and Work in the Global Economy by Michael D. Yates. Comparing the key arguments made by neoclassical and radical economists. This should point out similarities and differences between these two approaches to economic analysis.
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CH5.What are the key arguments neoclassical economists make?
Do you find that these arguments explain capitalism and its inequalities convincingly?
What are the two subcategories of neoclassical theory that Yates discusses?
Do you think Keynesian theory belongs in the neoclassical camp, or would you rather put it in the camp of capitalist critical theories?
CH6.What are the key arguments radical economists make?
Do you find that these arguments explain capitalism and its inequalities convincingly?
Does the labour theory of value make sense to you?
Do you agree that capitalism cannot do without an industrial reserve army of labour (i.e., unemployment)?
Can you think of a world without unemployment and inequality?
