Economics, Econometrics and Finance
8 years ago

Neoclassical Economics Poised to Reshape Global Economies, Challenging Mainstream Assumptions

Economic Alternatives
Toward Global Neoclassical Economics: A Critical Point of View
Atanas P. Atanasov

Paper Summary

The article discusses the globalization of Neoclassical economics, focusing on the Expected Utility Model (EUM) as a key methodology. The EUM has evolved since World War II and is now a benchmark for evaluating the development of Neoclassical economics worldwide. Global economics, based on Anglo-Saxon economics, emphasize formalism, modeling, and axiomatization.

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