https://sustainabilityconference2012.weaconferences.net/papers/where-neoclassical-economics-fails-the-environment/ 24th September to 21st October, 2012 Mon, 09 Jun 2025 12:07:11 +0000 hourly 1 https://sustainabilityconference2012.weaconferences.net/papers/where-neoclassical-economics-fails-the-environment/#comment-67 Mon, 22 Oct 2012 01:11:30 +0000 http://sustainabilityconference2012.worldeconomicsassociation.org/?post_type=paper&p=203#comment-67 The contribution of neoclassical economics in augmenting the issues of growth and scarcity is very important in promotion of economics as a subject. The real propagation of scarcity versus abundance creates a contemporary verdict of selection of goods and services. As the author mentions about the determination of rate of interest, the price structure, constant returns to scale, inequality etc., are all not only related to the economic factors, but also non-economic, but materialistic attitudes. In fact, the neoclassical approach clearly shown the light on which the ‘equilibrium’ models should be built. Altogether, the paper depicts the reality of reorientation of neoclassical school to the present day world. A new experience of reading the paper.

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