A central insight from neoclassical economics is that international trade operates like an improvement in production technology. It generates mutual aggregate welfare gains for countries as a whole, ...

Economist Ha-Joon Chang explains why the school of Neoclassical economics that rose in the 19th/early 20th century – now today’s dominant school of economics – decided they wanted to be scientists.

While finance historians credit Harry Markowitz as the father of Modern Portfolio Theory, he enjoys pointing to Shakespeare as an early advocate of diversified portfolios. In “The Merchant of Venice,” ...

For more than a century, neoclassical theory dominated economic thinking. Neoclassical economics is a theory based on three key assumptions: individuals have rational preferences; individuals maximize ...

This thesis critiques neoclassical economic theory. In each chapter, with the exception of the last two, I will examine a different neoclassical theory and reveal its lack of realism, and how said ...

Steve Keen is a fellow contributor here at Forbes so this isn't a declaration of all out jihad upon his ideas. Rather, it's to show that one of his contentions about economics and the economy might ...

Forbes contributors publish independent expert analyses and insights. I am a physician and behavioral scientist at Duke University. This article is more than 10 years old. In what academics call ...

Like many students in the Economics Department at The New School for Social Research, Ebba Boye and Ingrid Kvangraven want to widen the lens through which we examine economies. Their approach to ...

Explore whether economics can be considered a science, analyzing its classification, testability, and consensus within social science debates.