Criticisms of Neoclassical Economics - Incomplete

Incomplete

James K. Galbraith on his article A contribution on the state of economics in France and the world asks himself: "Is there anything missing even from the hotly contested domains of modern mainstream economics?" On his opinion, three large areas have disappeared from the teaching of Economics, "at very considerable intellectual and social cost": the history of economics itself, the proper study of macroeconomic and monetary economics - which have been submerged by the neoclassical emphasis on market transactions between firms and households - and the lack of instruction in differing institutional contexts (political, national and international structures, policy histories).

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