First Advisor

John Hall

Date of Award

2014

Document Type

Thesis

Department

Economics

Subjects

Thorstein Veblen (1857-1929) -- Criticism and interpretation, Tony Lawson -- Criticism and interpretation, Neoclassical school of economics, Economics

DOI

10.15760/honors.91

Abstract

This inquiry seeks to establish the importance of the critiques levied by Thorstein Veblen and Tony Lawson against the orthodox economics of a century ago and today. This paper puts forward the notion that Neoclassical school and its sub set known as marginal utility theory are constructed upon shaky philosophical and methodological foundations that include the hedonistic conception of man, Benthamite Utilitarianism, static equilibria, and the use of the mathematical deductivist method far beyond its scope of effectiveness. Writing in two different time periods, Veblen and Lawson comment upon the same essential methodological maladies and put forward alternative methodologies and ontologies aimed at reorienting a classical physics based economics towards a social-biological future.

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Comments

An undergraduate honors thesis submitted in partial fulfillment of the requirements for the degree of Bachelor of Arts or Science in University Honors and Economics

Persistent Identifier

http://archives.pdx.edu/ds/psu/11975

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