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Contemporary Substitutes of the Political Economy

Author

Listed:
  • Mimo Draskovic

    (University of Montenegro)

  • Slobodan Lakic

    (Faculty of Economics)

  • Veselin Draskovic

    (University of Montenegro)

Abstract

The subject of this paper is a critique of the selective theoretical modelings of economic realities, which are monistic (quasi-neoliberal) and mathematical-statistical in nature. In this sense, the theme named Contemporary Substitutes of the Political Economy is defined. The aim of this research is that the above-mentioned modeling of economic reality would be described as a deliberate motion from the analysis and explanation of fundamental economic problems towards secondary issues. Therefore, we characterize them as unfair and programmed ways of fogging the essence of economic problems and crisis. We start from the hypothesis that these modelings replaced and virtually eliminated the former synthesized and useful political-economic analysis. In this paper, we have used a descriptive, comparative methods, panel sample and a schematic logic modeling. The results of our research show that the substitution of political economy by neoclassical and neoliberal economics is performed over a longer period, and through prioritizing the mathematical and statistical econometric analysis. As a proof, we present our selective research panel using a sample of 39 issues from five international journals, which can be found in databases SSCI and Scopus. This research is limited by the unavailability of most journals on the Internet and in printed publications. The application area of the research results is an economic theory. In conclusion, we ascertain the need for greater affirmation of political economy, which in combination with new institutional theory, enables a more realistic view of social and economic reality.

Suggested Citation

  • Mimo Draskovic & Slobodan Lakic & Veselin Draskovic, 2016. "Contemporary Substitutes of the Political Economy," Economy of region, Centre for Economic Security, Institute of Economics of Ural Branch of Russian Academy of Sciences, vol. 1(1), pages 37-45.
    • Handle: RePEc:ura:ecregj:v:1:y:2016:i:1:p:37-45
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    References listed on IDEAS

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    1. Milan Mesaric, 2012. "Neoliberalism Vs. Planning As A Institute Of Socio-Economic Development," Montenegrin Journal of Economics, Economic Laboratory for Transition Research (ELIT), vol. 8(3), pages 19-25.
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    Cited by:

    1. Khrystyna Danylkiv & Khrystyna Gorbova & Nataliia Hembarska & Viktor Trynchuk & Yurii Paida & Volodymyr Havran, 2020. "Methods of Economic Evaluation of Concession Project Effectiveness," Montenegrin Journal of Economics, Economic Laboratory for Transition Research (ELIT), vol. 16(4), pages 67-84.

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