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Development of Economic Theory and the New Paradigm before it

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  • Georgi Minchev

Abstract

The necessity of radical change in economic theory is grounded. The conclusion is made that with the accumulated by now economic knowledge its harder to explain a series of economic processes and to outline the further development of society. Covered is the idea for changes in the established in economic science paradigms towards creation of knowledge corresponding to the current economic situation but not only for the revival, modernization and correction of the existing theories, conceptions and models.

Suggested Citation

  • Georgi Minchev, 2008. "Development of Economic Theory and the New Paradigm before it," Economic Thought journal, Bulgarian Academy of Sciences - Economic Research Institute, issue 2, pages 20-32.
    • Handle: RePEc:bas:econth:y:2008:i:2:p:20-32
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    More about this item

    JEL classification:

    • A11 - General Economics and Teaching - - General Economics - - - Role of Economics; Role of Economists
    • O11 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Macroeconomic Analyses of Economic Development

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