Lefteris Tsoulfidis - Economic theory in historical perspective

jpe:10702 - Journal of Philosophical Economics, May 19, 2017, Volume X Issue 2 - https://doi.org/10.46298/jpe.10702
Economic theory in historical perspectiveArticle

Authors: Lefteris Tsoulfidis 1

  • 1 University of Macedonia [Thessaloniki]

On the methodological plain this paper outlines the conditions that contribute to the development of economic theories and it continues with an examination of the concrete circumstances that gave rise to modern neoclassical macroeconomic theories. The paper further claims that the current impasse in macroeconomics is indicative of the need for new directions in economic theory which becomes imperative in the long economic downturn that started in 2007 and concludes by suggesting the need for a synthesis between the classical analysis and the theory of effective demand.


Volume: Volume X Issue 2
Section: Articles
Published on: May 19, 2017
Imported on: December 28, 2022
Keywords: classical approach,neoclassical theory,theory of value,effective demand,paradigm change,[SHS]Humanities and Social Sciences

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