neoclassical

Definitions, parts of speech, synonyms, and sentence examples for neoclassical.

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Editorial note

But pretty much everyone who actually attempts to practice economics as a science, generally falls into the neoclassical camp.

Examples17

Definitions4

Parts of speech2

Quick take

Ellipsis of neoclassical economist.

Meaning at a glance

The clearest senses and uses of neoclassical gathered in one view.

noun

Ellipsis of neoclassical economist.

adjective

Of pertaining to a style of architecture based on classical models, especially such a style of the 18th century.

adjective

Of or relating to various art styles, as in sculpture and ballet, inspired by older classical forms and conventions.

Definitions

Core meanings and parts of speech for neoclassical.

noun

Ellipsis of neoclassical economist.

See also: classical, neoclassic

adjective

Of pertaining to a style of architecture based on classical models, especially such a style of the 18th century.

See also: classical, neoclassic

adjective

Of or relating to various art styles, as in sculpture and ballet, inspired by older classical forms and conventions.

See also: classical, neoclassic

adjective

(linguistics) Being a recent construction based on older, classical elements.

See also: classical, neoclassic

Example sentences

But pretty much everyone who actually attempts to practice economics as a science, generally falls into the neoclassical camp.

On the other hand, neoclassical economics contains some core truths that fundamentally inform how most economists think.

The entire point of neoclassical economics is to dismantle specious verbal arguments like the one you've given.

Opportunity cost, marginalism, consumer preference, and other concepts that form part of neoclassical economics originally come from the 'Austrian' school.

On the one hand, you are right the economics can't be accused of ignoring obvious flaws in neoclassical economics (e.g.

More precisely, neoclassical economics posits that economic equilibriums are the same as they would be if humans were rational actors.

Many classical and neoclassical economic propositions are of a fundamentally epistemological nature, not strictly positivist.

So neoclassical theory isn't nearly so tied to the idea of selfishness as people think.

Most reject the advances made into econometrics, mathematic models, and modern neoclassical macro theory.

The claim that neoclassical economics is a straw man, is a double edged sword.

The ideas of Keynes were not abandoned, but they were rendered in a form that is more consistent and coherent with neoclassical economics.

There's far more 'kooks' in the anti-Keynesian camp than in the Neoclassical camp.

Quote examples

You're right that "neoclassical economists" or rather macroeconomists assume self-interested behavior on average rather than at an individual level.

That's a wigglier definition of "rational actor" than neoclassical economics actually admits.

Finally, it is clear without needing further research that they do clearly hold the belief that the following quote is representative of mainstream economics: "the fantasy world of neoclassical economics — a faith-based religion of perfect markets, enlightened consumers and infinite growth that shapes the fates of billions." This belief is a strawman caricature of an introductory economics model.

Proper noun examples

Neoclassical economics states that you plug in everyone's (intrinsic) utility into a big market mechanism, and it will give you a pareto optimal result.

And they've been elaborated on in the current 'dominant' economic school, which is better called 'Neoclassical Economics', wrongly labelled as 'Keynesian Economics' by the naysayers (though of course much of it does develop on Keynes' ideas).