“The field of economics used to be much broader than what it is now,” said Boye. She attributes its narrowing to the hardening of neoclassical economic theory into rigid doctrine. It can often seem as ...

Mirowski further calls into question the idea that economics has been immune to postmodern currents found in the larger culture, arguing that neoclassical economics has surreptitiously participated in ...

Neoclassical economics is heavily based on a formalistic method, primarily centred on mathematical deduction. Consequently, mainstream economists became overfocused on describing the states of an ...

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, ...

Behavioral economics combines elements of economics and psychology to understand how and why people behave the way they do in the real world. It differs from neoclassical economics, which assumes that ...

The work of economists such as Friedrich von Hayek and Milton Friedman, who developed theories now known as monetarism or neoclassical economics, gained prominence. These theories proposed that ...