The Classical and Neoclassical Theoretical Traditions and the Evolutionary Study of the Dynamics of Globalization

Journal of Economics and Political Economy, 6(3), 257-280, 2019

24 Pages Posted: 5 Nov 2019

See all articles by Charis Vlados

Charis Vlados

Democritus University of Thrace, Department of Economics

Date Written: September 2019

Abstract

This article aims to present the theoretical foundations of the classical political economy through the contributions of Adam Smith and David Ricardo and to find out how their neoclassical followers interpreted, evaluated, and transformed this classical theoretical basis. Specifically, we analyze from a critical point of view the neoclassical interpretation of globalization by arguing that this theorization is probably insufficient in analytical terms. We conclude that an analytical counterproposal for the relative explanatory insufficiencies of the neoclassical synthesis is based on the modern evolutionary approach of globalization.

Keywords: Classical political economy, Neoclassical economics critique, Evolutionary approach, Globalization.

Suggested Citation

Vlados, Charis, The Classical and Neoclassical Theoretical Traditions and the Evolutionary Study of the Dynamics of Globalization (September 2019). Journal of Economics and Political Economy, 6(3), 257-280, 2019, Available at SSRN: https://ssrn.com/abstract=3475555

Charis Vlados (Contact Author)

Democritus University of Thrace, Department of Economics ( email )

Komotini
Greece

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