What is the value of the neo-classical economics model?

Mitchell, Stephen R. (2007) What is the value of the neo-classical economics model? (MA(R) thesis), Kingston University, .


Social Science models are built on the twin philosophies of Rationalism and Empiricism the Enlightenment. They adhere to a scientific method which places over-reliance on perception. Plato's allegory, 'The Myth of the Cave', aptly demonstrates the nature of such an arrangement. Furthermore, in Pope Benedict XVI address of 12th September, 2006 at the University ofRegensburg, he tactfully suggests the method to be a limited use of reason. In fact, it does not constitute the use of reason at all. Instead, method is blind to a higher faculty the human mind possesses, which was alluded to by the Ancient Greeks and to which we are now privy from the East. All the while, we remain subject to a neo- classical economics model of rudderless value, whose very methodology demands of the researcher to adopt the same, with its attendant consequences. This is set to continue, until we really begin to understand the nature of the being. This constitutes the closing note of the research.

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