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ERIC Number: EJ1028984
Record Type: Journal
Publication Date: 2014
Pages: 6
Abstractor: As Provided
Reference Count: 18
ISBN: N/A
ISSN: ISSN-0883-2323
History versus Equilibrium Revisited: Rethinking Neoclassical Economics as the Foundation of Business Education
Clark, Charles Michael Andres
Journal of Education for Business, v89 n4 p207-212 2014
The financial crisis was partially caused by neoclassical economic theory and theorists. This failure has prompted business educators to rethink the role of neoclassical economics as the foundation of business education. The author connects this question to the more general critique of the scientific model of business education and the old historical versus scientific methodology debate in the history of economics. It is argued that neoclassical economics has serious limitations that make it a poor foundation for understanding business behavior in a real economy. A realistic and useful business education needs to include historical and social context, both of which neoclassical economics must exclude.
Routledge. Available from: Taylor & Francis, Ltd. 325 Chestnut Street Suite 800, Philadelphia, PA 19106. Tel: 800-354-1420; Fax: 215-625-2940; Web site: http://www.tandf.co.uk/journals
Publication Type: Journal Articles; Reports - Evaluative
Education Level: Higher Education; Postsecondary Education
Audience: N/A
Language: English
Sponsor: N/A
Authoring Institution: N/A