An heterodox assessment of the methodology of neoclassical economics : theory and policy in development economics

Wood, Gina Nadine. (1993). An heterodox assessment of the methodology of neoclassical economics : theory and policy in development economics Honours Thesis, School of Economics, The University of Queensland.

       
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Author Wood, Gina Nadine.
Thesis Title An heterodox assessment of the methodology of neoclassical economics : theory and policy in development economics
School, Centre or Institute School of Economics
Institution The University of Queensland
Publication date 1993
Thesis type Honours Thesis
Total pages 89
Language eng
Subjects 14 Economics
Formatted abstract This thesis argues that development economics is the policy-based arm of the orthodox paradigm, neoclassical economics. Because neoclassical theory is enacted into policy, the philosophical and methodological foundations of development economics are those of the orthodoxy. Therefore, if development policy does not result in the aims to which it aspires, the neoclassical theory underlying development policy requires examination.

Therefore, this thesis seeks to exposit the philosophical and methodological foundations of the orthodoxy. This is attempted by:
(i) evaluating the method by which theory is appraised and either accepted or rejected, both from the context of neoclassical economics and the philosophy of science, from whence theory choice criteria arise;
(ii) evaluating the orthodox analytical framework used to explain the phenomena deemed to be of significance to the field(s) of inquiry encompassed by neoclassical economics;
(iii) evaluating the effects of a theoretical application within development economics from both orthodox and heterodox perspectives;
(iv) evaluating an heterodox approach, evolutionary economics, in the context of the philosophical and methodological problems identified within the orthodox paradigm.


 
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