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Viability, economic transition and reflection on neoclassical economics

Lin, Justin Yifu (contributor) - 2004 - [Elektronische Ressource]

Many transition policies, based on neoclassical economics, failed in Eastern Europe, the former Soviet Union, and China. This paper argues that the failure is due to the viability assumption in neoclassical economics. Neoclassical economics implicitly assumes that a firm is expected to earn a...

Persistent link: https://www.econbiz.de/10002004173