How does mainstream economics propose to address market failures?

Neoclassical economics conceptualized the agents, households and firms, as rational actors. Agents were modeled as optimizers who were led to "better" outcomes. Mar 30, 2024 ... In this paper, I attempt to provide some answers to these questions by drawing on insights from mainstream economic theory. Jan 31, 2023 ... Mainstream or "orthodox" economics comprise of solely the neoclassical economics in microeconomics and a synthesis of neoclassical and Keynesian economics in a ... Sep 3, 2020 ... Abstract: In this paper we ask, what is mainstream economics education conveying to its students? ... mainstream economists and a subset of the ... Sep 8, 2022 ... Major studies show that mainstream economics provides theories of inequality and unsustainability. However, the theories of causation utilized remain largely ... In this paper we argue that much of this criticism today is off the mark because mainstream economic thinking has changed. We argue that economics is moving ... Sep 17, 2014 ... Economists view contemporary Austrians a little like scientists view creationists. While most Economists (despite what Austrians will tell you) are not ... Many of Boettke's criticisms of formalist economics are justified. However, he defines formalism so broadly that it becomes practically synonymous with ... Oct 28, 2013 ... Mainstream economics is in denial: the world has changed ... Rebellions aren't meant to kick off in lecture theatres – but I saw one last Thursday ... Nov 22, 2019 ... It is a money-making economy. You can print money indefinitely, but you cannot turn it into value under capitalism without the exploitation of ...