search query: @indexterm POLITICAL ECONOMY / total: 438
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| Author: | Michie, J. Oughton, C. Wilkinson, F. |
| Title: | Against the New Economic Imperialism: Some Reflections |
| Journal: | American Journal of Economics and Sociology
2002 : JAN, VOL. 61:1, p. 351-365 |
| Index terms: | POLITICAL ECONOMY ECONOMIC CONDITIONS ECONOMISTS ECONOMICS ANALYTICAL REVIEW |
| Language: | eng |
| Abstract: | Classical political economy recognised that what needed analysing, explaining, and acting on was an economic system inextricably linked to the wider political and social systems. Smith and Ricardo, as well as Marx, saw class and the distribution of income as key. Neoclassical economics replaced these social and collective categories with the individual consumer and the marginal product of labour as the fundamental analytical categories-the political having been discarded. Yet even one of the founders of neoclassical economics, Alfred Marshall, would barely recognize nor accept what is today presented as economic analysis, ignoring as it does the key industrial and organisational detail underlying production. |
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