CRITIQUE OF NEOCLASSICAL ECONOMICS

2025. An encompassing analysis of capitalism from the end of the 19th century, the rise of the managerial class, the democratic revolution and the consolidation of democracy, the mtnhagerial class in Soviet Union and statism, the neoliberal phase, the present crisis and prospects. Oxford University Press, US$ 40.00.

Luiz Carlos Bresser-Pereira

Oxford University Press, 2025

Contra Capa
Contents
Introduction

PART I. FORMS, PHASES, MODELS
1. Human Progress and the Republican State
2. The Capitalist Revolution
3. Two Forms and four Phases
4. The Developmental State
5. Imperialism and the Developing World

PART II. TWO FOUNDING REVOLUTIONS
6. The Quality of Democracy
7. The Organizational Revolution
8. Managerial Ideology
9. The Golden Age of Capitalism and the 1970s Crisis
10. The End of Station in Russia and China

PART III. THE NEOLIBERAL REGRESSION
11. The Neoliberal Turn
12. Globalization: Reality and Design
13. Rentiers and Financiers
14. Neoliberal Ideology: Reactionary and Neoconservative
15. Neoclassical Economics and its Critiques
16. Finacialization

PART IV. THE CRISIS
17. The 2008 Great Financial Crisis
18. Collapse of Neoliberalism and Secular Stagnation
19. Falling Inequality?
20. The Developing World
21. China, the US, and Developmentalism

PART V. WHAT LIES AHEAD FOR CAPITALISM?
22. Democracy Is Alive
23. Neoliberalism Collapsed
24. Democratic Managerial Capitalism
25. No Emancipatory Transition

End Notes
References
Index

2015. This paper proposes a classification of economic models into three types: historical, axiomatic, and conditional. (Paper published 9n 2016 in the Journal of Economic Methodology)

2013. The core of neoclassical economics (general equilibrium and rational expectations macroeconomics) is demoralized. A Keynesian-structuralist alternative is available. What is necessary to do to become mainstream again. English version available.

2012. Since economics is a social science, good economics is historical and assumes uncertainty. Thus, it should be modest and reasonable, See corresponding paper. (Conference receiving the James Street Award from the Association for Evolutionary Economics: slide presentation)

2009. Neoliberalism and its "scientific" justification, neoclassical economics, were more than just an assault on the state it was also an assault to the market. (Essay: Estudos Avançados). A slightly modified version, "Economics: an assault on the state", has been published in Challenge, 53 (5), September 2010: 57-77.

2009. Neoclassical economists use the hipothetical deductive method, but an empirical-deductive method, particularly the new historical facts approach, is a a more advisable aternative. (Paper: Revista de Economia Política). English version available.

1970. Economic theory is formed of two branches: formal economics, a sum of tools, and political economy, the analysis of real economic systems and problems. (Note: FGV/SP)