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Dilemmas in Economic Theory: Persisting Foundational Problems of Microeconomics

Author

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  • Mandler, Michael

    (Harvard University)

Abstract

By examining the development of economics in the 20th century, this book argues that the breakthroughs of post-World War II general equilibrium theory and its rejection of utilitarianism and marginal productivity have been misunderstood. Mandler maintains that although earlier neoclassicism deserved criticism, current theory does not adequately address the problems the discarded concepts were designed to solve, and that intractable dilemmas therefore appear.

Suggested Citation

  • Mandler, Michael, 2001. "Dilemmas in Economic Theory: Persisting Foundational Problems of Microeconomics," OUP Catalogue, Oxford University Press, number 9780195145755.
    • Handle: RePEc:oxp:obooks:9780195145755
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    Cited by:

    1. John Weymark, 2005. "Measurement theory and the foundations of utilitarianism," Social Choice and Welfare, Springer;The Society for Social Choice and Welfare, vol. 25(2), pages 527-555, December.
    2. Carter, Steven & McBride, Michael, 2013. "Experienced utility versus decision utility: Putting the ‘S’ in satisfaction," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 42(C), pages 13-23.
    3. Ivan Moscati, 2007. "History of consumer demand theory 1871 - 1971: A Neo-Kantian rational reconstruction," The European Journal of the History of Economic Thought, Taylor & Francis Journals, vol. 14(1), pages 119-156.
    4. G. C. Harcourt, 2015. "On the Cambridge, England, Critique of the Marginal Productivity Theory of Distribution," Review of Radical Political Economics, Union for Radical Political Economics, vol. 47(2), pages 243-255, June.
    5. Yahya Madra & Fikret Adaman, 2010. "Public economics after neoliberalism: a theoretical-historical perspective," The European Journal of the History of Economic Thought, Taylor & Francis Journals, vol. 17(4), pages 1079-1106.
    6. Newell, Richard G. & Pizer, William A., 2003. "Discounting the distant future: how much do uncertain rates increase valuations?," Journal of Environmental Economics and Management, Elsevier, vol. 46(1), pages 52-71, July.
    7. Ivan Moscati, 2013. "How cardinal utility entered economic analysis: 1909--1944," The European Journal of the History of Economic Thought, Taylor & Francis Journals, vol. 20(6), pages 906-939, December.
    8. D. Wade Hands, 2017. "The road to rationalisation: A history of “Where the Empirical Lives” (or has lived) in consumer choice theory," The European Journal of the History of Economic Thought, Taylor & Francis Journals, vol. 24(3), pages 555-588, May.
    9. Erik Angner, 2011. "Current Trends in Welfare Measurement," Chapters, in: John B. Davis & D. Wade Hands (ed.), The Elgar Companion to Recent Economic Methodology, chapter 6, Edward Elgar Publishing.
    10. Bozhidar Nedev, 2019. "Historical roots of behavioural financial thought," Economic Thought journal, Bulgarian Academy of Sciences - Economic Research Institute, issue 3, pages 33-50.
    11. Duncan K. Foley, 2020. "Socialist alternatives to capitalism I: Marx to Hayek," Review of Evolutionary Political Economy, Springer, vol. 1(3), pages 297-311, November.
    12. Georgios Gerasimou, 2017. "Preference intensity representation and revelation," Discussion Paper Series, School of Economics and Finance 201716, School of Economics and Finance, University of St Andrews, revised 01 Jun 2019.
    13. Georgios Gerasimou, 2019. "Simple Preference Intensity Comparisons," Discussion Paper Series, School of Economics and Finance 201905, School of Economics and Finance, University of St Andrews, revised 27 Apr 2020.
    14. Mario Rizzo, 2014. "James M. Buchanan: Through an Austrian window," The Review of Austrian Economics, Springer;Society for the Development of Austrian Economics, vol. 27(2), pages 135-145, June.
    15. Michael Mandler, 2005. "Well‐Behaved Production Economies," Metroeconomica, Wiley Blackwell, vol. 56(4), pages 477-494, November.
    16. Carlo Milana, 2019. "Solving the Reswitching Paradox in the Sraffian Theory of Capital," Applied Economics and Finance, Redfame publishing, vol. 6(6), pages 97-125, November.
    17. Duncan K. Foley, 2008. "Comment On ‘The Stability Of General Intertemporal Equilibrium: A Note On Schefold’ By Sergio Parrinello," Metroeconomica, Wiley Blackwell, vol. 59(2), pages 313-316, May.
    18. Robert Lepenies, 2014. "Economists as political philosophers : a critique of normative trade theory," RSCAS Working Papers 2014/11, European University Institute.
    19. Courard-Hauri David & Lauer Stephen A., 2012. "Taking "All Men Are Created Equal" Seriously: Toward a Metric for the Intergroup Comparison of Utility Functions Through Life Values," Journal of Benefit-Cost Analysis, De Gruyter, vol. 3(3), pages 1-30, August.
    20. Mauro Boianovsky, 2005. "DENNIS ROBERTSON ON UTILITY AND WELFARE IN THE 1950s," Anais do XXXIII Encontro Nacional de Economia [Proceedings of the 33rd Brazilian Economics Meeting] 010, ANPEC - Associação Nacional dos Centros de Pós-Graduação em Economia [Brazilian Association of Graduate Programs in Economics].
    21. John A Weymark, 2012. "Social Welfare Functions," Vanderbilt University Department of Economics Working Papers vuecon-sub-13-00018, Vanderbilt University Department of Economics.
    22. Villarreal, Francisco G. & Aravena, Claudio & Jofré, José, 2010. "Estimación de servicios de capital y productividad para América Latina," Estudios Estadísticos 4772, Naciones Unidas Comisión Económica para América Latina y el Caribe (CEPAL).

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