Can Neoclassical Economics Underpin the Reform of Centrally Planned Economies?

Article OPEN
Peter Murrell; (1991)
  • Journal: Journal of Economic Perspectives,volume 5,issue 4 Fall,pages59-76
  • Related identifiers: doi: 10.1257/jep.5.4.59
  • Subject:
    • jel: jel:P21

This paper addresses whether neoclassical economics can provide the intellectual underpinning for a theory of reform. I examine whether the neoclassical model satisfies an essential condition to qualify for this role: does it give us a satisfactory explanation for the v... View more
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