Blinda fläckar hos neoklassisk teori

Neo-classical theory is simply an inappropriate tool to analyze and prescribe policies that will induce development. It is concerned with the operation of markets, not with how markets develop. How can one prescribe policies when one doesn’t understand how economies develop? The very methods employed by neo-classical economists have dictated the subject matter and militated against such a development. That theory in the pristine form that gave it mathematical precision and elegance modeled a frictionless and static world. When applied to economic history and development it focused on technological development and more recently human capital investment, but ignored the incentive structure embodied in institutions that determined the extent of societal investment in those factors. In the analysis of economic performance through time it contained two erroneous assumptions: one that institutions do not matter and two that time does not matter.

Douglass C. North



Fyll i dina uppgifter nedan eller klicka på en ikon för att logga in: Logo

Du kommenterar med ditt Logga ut /  Ändra )


Du kommenterar med ditt Google+-konto. Logga ut /  Ändra )


Du kommenterar med ditt Twitter-konto. Logga ut /  Ändra )


Du kommenterar med ditt Facebook-konto. Logga ut /  Ändra )

Ansluter till %s