Original scientific paper
Theses on Neutrality of Economic Policies in the Neoclassical Macroeconomy
Luka Brkić
; Faculty of Political Science, University of Zagreb, Zagreb, Croatia
Abstract
The author analyses fundamental concepts of the school of rational expectations (RATEX, an offspring of the Chicago school of economics). Theoretical foundations of the neoclassical macroeconomy are set out: the hypothesis of rational expectations in the circumstances of perfect competition and the principle of strategic interdependence. Central to that are the hypotheses of variants, misallocation of resources and neutrality of economic policy. Outlined are rent-seeking and direct unproductive-profit seeking as well as alternative models in the new theoretical economy: economic constitutionalism, deficitarians, the theory of political business cycles, supply side economics.
Keywords
Hrčak ID:
110975
URI
Publication date:
5.9.1994.
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