Comparison of classical and neoclassical

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Comparison of classical and neoclassical

Confronto tra classici e neoclassici

Economists Classics were distinguished from those neo-classic for a multitude of reasons and in particular to the different study subject and for the starting point of ’ analysis.

Below is a brief comparison between classical and neoclassical with their key features:

THE CLASSICS :

  • The object of study:

    The economic and productive strengths and constraints in different historical periods and investigation of reality

  • Starting point of ’ economic analysis:

    Production

  • Type of survey:

    Macroeconomic, c ’ is an observation and an analysis of the system

  • Survey method:

    Inductive method: by ’ observation of individual items you create connections and afterwards the generalization of all.

  • Overview:

    Economics is a social science, Nell ’ ’ ’ classical approach and investigation c is a low use of mathematics

  • ’ vision of man and society:

    L ’ person has a certain social position, society is divided into certain social classes

  • Value:

    Value-work

  • Distribution:

    Represents an existing problem, causes conflicts between the social classes

 

  • “Laissez faire”:

    Substantive programme of work, fundamental line of conduct

THE NEOCLASSICAL:

  • The object of study:

    Subjective behavior and observation of phenomena and behaviour of the different economic agents

  • Starting point of ’ analysis:

    Utility goods and consumption concept

  • Type of survey:

    Microeconomic, observation in detail, of the individual

  • Survey method:

    Deductive method: starting from the postulates there is a universal rule

  • Overview:

    Rigorous language and apparent use of mathematics, l ’ economy is seen as exact science

  • ’ vision of man and society:

    L ’ man becomes purely economic subject (Homo economicus), that can be seller or buyer

  • Value:

    Utility value

  • Distribution:

    Thanks to the ’ system there is the ’ harmony distribution problem, also there is ’ labour exploitation

  • “Laissez faire”:

    Absolute dogma

With regard to the neoclassical economics ’ one of the greatest exponents was Vilfredo Pareto, born in Paris on 15 July 1848. Pareto was one of the greatest of ’ marginalistico address represented.

One of the greatest exponents of ’ classical economics was Adam Smith, born in Kirckaldy on 5 June 1723 is considered the father of economic science for providing an overview of the forces that gave rise to the wealth of Nations, of economic policies better suited to enable development and growth.

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