The Methodology of Neoclassicism in the Analysis of Modern Economic Systems Transformation: Limits of Applicability
Year: 2024
Type: article
Abstract: This article explores the application of neoclassical methodology in analyzing the transformation processes of modern economic systems. The authors focus on identifying which aspects and tools of neoclassical economic theory can be effective in understanding complex economic changes. Special emphasis is placed on the critical assessment of the limitations of this approach in the context of contemporary economic development challenges. The article highlights both the advantages and drawbacks of using neoclassical approaches to explain transformational processes in different countries and regions worldwide. The study is based on an analysis of current empirical data and scientific literature, allowing for the determination of the conditions and boundaries within which neoclassical methodology can be effectively applied to the study of economic transformations
Source: Actual Problems of Economics
Authors: Oleksandr Fedotov, Serhii Fedotov
Institution: Academy of Labour Social Relations and Tourism
Language: English
Subfield: Economics and Econometrics
Domain: Social Sciences
Open Access status: diamond
OpenAlex ID: W4407938835