Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/173502
Authors: 
Valdes Viera, Oscar
Year of Publication: 
2017
Series/Report no.: 
Working Paper 893
Abstract: 
Neoclassical economists of the current era frequently pay lip service to Adam Smith's theories to certify the validity of natural-laws-based, laissez-faire policies. However, neoclassical theories are fundamentally disconnected from Adam Smith's notion of value, his understanding of the economic individual and their interactions in society, his methodology, and the field of study he afforded to political economy. Instead, early neoclassical economists parted ways with the theories of Adam Smith in an effort to construct economic laws that would validate the existing capitalist order as universal, natural, and harmonious.
Subjects: 
Economic Thought
Classical School
Neoclassical Economics
Adam Smith
Economists
JEL: 
A11
A13
B12
B13
B16
B20
B31
Document Type: 
Working Paper
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