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andrezito [222]
3 years ago
7

What does neoclassical economics claim to be doing and why?

Arts
1 answer:
vitfil [10]3 years ago
3 0

Answer:

In general, Neoclassical economists have modernized the views of Adam Smith. Their assumptions are that individuals and business firms make rational choices based on their self-interest and that choices are made based on past and future information. That means that the activist Keynesian view of economics is not necessary because the economy is self-adjusting as Adam Smith had insisted in the past. They hold that view and prescribe a non-activist view of interference in the economy by government.

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