Date of Award
Thorstein Veblen (1857-1929) -- Criticism and interpretation, Tony Lawson -- Criticism and interpretation, Neoclassical school of economics, Economics
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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Howell, Thomas, "Selected Critiques of the Philosophical Underpinnings of the Neoclassical School" (2014). University Honors Theses. Paper 59.