Notability of Substantive Elements of Economics, in Groundwork of Evolution of Economic Thought

Document Type: Research Paper

Author

Faculty of Economics and Political Sciences, Shahid Beheshti University, Tehran, Iran.

Abstract

This paper is investigating that:" resurging evolution of economic thought, EET, is brilliantly in direction with eminence of substantive elements of economics itself". It presupposes that the substantive elements of economics embraces the following package: 1- maintaining on some epistemic doctrines, including rationality, efficiency and equilibrium.2-dynamic characteristic of economic theories. 3-obvious interdisciplinary framework and systematic relationship with other social sciences.4- Compatibility with mildness and moderation.5- institutional, social and ethical potentialty.6-pluralistic in nature and potentiality for methodological reforms.7-Applying the package in question would create an outstanding analytical power. Due to pluralistic nature of conventional economics, it constitutes mainstream and non-mainstream, neoclassic and non-neoclassical paradigms and so forth. Moreover, neoclassic paradigm includes both orthodox and non-orthodox approaches. This paper maintains on efficacy of moderate and non-orthodox paradigms of conventional economics.

Keywords


References

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