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i need more explanation on neo classical economic thiught

Posted by akinlolu rachel on July 30, 2003 at 05:53:07:

In Reply to: Re: Neoclassical Ideas posted by Carole on October 14, 2001 at 23:32:13:

: I guess you could say the government favors neoclassical economic ideas because the economists in government are neoclassical and because this philosophy seems to come out of the mouths of our politicians all the time. The media always presents this point of view and that's what we get taught in high school economics. It isn't really fishy, though. Doesn't the elite in every society promote ideas that support keeping things the way they are? Do you expect that President Bush would appoint a Marxian economist to the Council of Economic Advisors? If people got rich by holding slaves or doing other immoral things, then wouldn't it be better to tell everybody a story that beings with "We all started out equal but some of us just worked harder and saved."

: : Does it seem to anyone else that neoclassical ideas are just a little bit out of whack? Most of us seem to agree that the neoclassical system is unrealistic, that it doesn't take into account any variation and that it assumes all people are given equal opportunitites. But it is also clear that the people running our government and our economic system right now really like the neoclassical framework. Doesn't that seem a little fishy? It's obvious that all those people, white men most of the time, had some advantage that made it possible for them to now be running the country. So how can they truthfully tell us that we all have an equal chance to "be the president someday" or whatever. Maybe they're in charge and they want to stay in charge, so the more we all believe that the neoclassical system works, the easier it will be for them to stay on top. Am I blowing this out of proportion?




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