Comparative economics and the mainstream

Authors

  • László C Csaba

DOI:

https://doi.org/10.18559/ebr.2017.3.3

Keywords:

system paradigm, neoclassical synthesis, institutional economics, socialist economy

Abstract

This essay reviews the complex love-hate relationship between comparative economics, as represented by its most outstanding representative, János Kornai, and mainstream economics, based on rational expectations and general equilibrium theorizing, as represented by Kenneth Arrow and his disciples Paul Samuelson, Olivier Blanchard and the New Keynesian line adopted by the IMF under his reign. The ultimate question is why the interaction has not been more productive and direct over the decades? Why has the post-communist era not brought about a  rapprochement? The essay reviews major milestones presented in academic volumes in the oeuvre of Kornai through the decades. It highlights a special form of microfounded macroeconomics, whose epistemological features are distinct from that of the neoclassical synthesis.  

Downloads

Download data is not yet available.

Downloads

Published

2017-09-30

Issue

Section

Research article- regular issue

How to Cite

Csaba, L. C. (2017). Comparative economics and the mainstream . Economics and Business Review, 3(3), 32-51. https://doi.org/10.18559/ebr.2017.3.3

Similar Articles

11-20 of 185

You may also start an advanced similarity search for this article.