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Economics of Productive Consumption as an Offshoot of Main Currents of Economic Theory

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  • Radim Valencik

    (University of Finance and Administration, Faculty of Economic Studies)

  • Petr Wawrosz

    (University of Finance and Administration, Faculty of Economic Studies)

Abstract

This article presents economics of productive consumption (EPC) as a relatively new and forward-looking trend in economic theory that reacts to the modern expansion in services associated with the acquisition, retention, and application of human capital. This article explains the substance of EPC, including the question of how and in what way it goes beyond contemporary neoclassical economic paradigms. It demonstrates that EPC seeks to fi nd the general principles of human behavior, and yet also draws on current conditions. For this reason it compares the approaches used in EPC with those of classical and neoclassical economics, providing a view of how EPC is associated with other off shoots of neoclassical economics and why EPC is growing in the contemporary era.

Suggested Citation

  • Radim Valencik & Petr Wawrosz, 2019. "Economics of Productive Consumption as an Offshoot of Main Currents of Economic Theory," ACTA VSFS, University of Finance and Administration, vol. 13(2), pages 113-134.
    • Handle: RePEc:prf:journl:v:13:y:2019:i:2:p:113-134
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    File URL: https://www.vsfs.cz/periodika/acta-2019-2-01.pdf
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    References listed on IDEAS

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    Cited by:

    1. Svetlana L. Sazanova, 2020. "Theory of Consumer Behavior in Economic Science The aims of this article is to study the evolution of the theory of consumer behavior in economic science in the context of the ratio of rational and ir," ACTA VSFS, University of Finance and Administration, vol. 14(1), pages 24-31.
    2. Ondøej Roubal & Petr Wawrosz, 2020. "Predatory and Alternative Hedonism – Better Later than Now?," ACTA VSFS, University of Finance and Administration, vol. 14(2), pages 166-179.

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