What is neoclassical economics? The three axioms responsible for its theoretical oeuvre, practical irrelevance and, thus, discursive power

Abstract

This paper offers a precise definition of neoclassical economics based on three axioms which lie at the latter's foundations. This definition is all inclusive in that it applies as much to the neoclassical economic models of the late 19th century as it does to today's more flexible and 'inclusive' models. The paper argues that these axioms, simultaneously, (a) provide the foundation for neoclassicism?s discursive success within the social sciences and (b) are the deep cause of its theoretical failure. Moreover, (a) and (b) reinforce one another as neoclassicism's discursive power (which is largely due to the hidden nature of its three foundational axioms) makes it even less likely that it will conduct an open, pluralist debate on its theoretical foundations (i.e. the three axioms which underpin it).Rad nudi preciznu definiciju neoklasicne ekonomije, temeljenu na tri aksioma koji cine njenu osnovu. Ova definicija je sveobuhvatna u smislu da ukljucuje kako neoklasicne ekonomske modele sa kraja XIX veka, tako i danasnje, znatno fleksibilnije i obuhvatnije modele. Rad potvrdjuje da ovi aksiomi istovremeno (a) obezbedjuju osnove za uspeh neoklasicnog diskursa unutar drustvenih nauka i (b) da su duboko uslovljeni svojim teorijskih ogradama. Stavise, (a) i (b) medjusobno se pojacavaju, s obzirom da neoklasicni diskursivni potencijal (koji je i nastao najvecim delom usled prikrivene prirode ova tri osnovna aksioma) cini manje verovatnom vodjenje otvorene, pluralisticke rasprave o sopstvenim teorijskim osnovama (odnosno, o tri aksioma koji ga podupiru).