Comparing Austrian and Post-Keynesian Criticisms of the Neoclassical View of Competition

It is very difficult to define various views presented by various theories under extreme definition, but the competition process is extremely important in economics. Although the standard theory focuses on market structure and strategic behavior, Austrian schools focus on market dynamics and entrepreneurial spirit, but Keynes' schools are in the area to dominate the business and manage prices I am focusing. This article attempts to compare and contrast the criticisms of Austria and Keynes against the neoclassical view on the standard of competition.

First of all, this article introduces the standard neoclassical view of competition. In the next section we will discuss the criticism against Austrian standard theory. Then after looking at Criticism of Keynes against Neoclassical competition theory. Finally, it will focus on criticism against the standard neoclassical view of competition. Let's start with the standard neoclassical competition theory; in general, neoclassical theorists as mainstream economists will introduce Smith's market system theory, classical theory as effective resource allocation and conditions of optimal social welfare standards Expanding by establishing. . (Semmler, 1982, p 93) In other words, in neoclassical theory, thought groups focus on two main problems, maximizing utility and allocating resources.

Since 1945, the integration of Neoclassicalism of Keynesianism and Neoclassical Economics has led to the field of microeconomics (normally neoclassical but newly developed market failure theory) and macroeconomics (Keynesianism and monetism It is divided). The viewpoint) forms a clear mainstream position. Issues such as the role of monetary policy. Unlike this integrated Austria and post-Keynesian, there is a clearly defined heresy school. In addition, the Marxist school and school school is still active

Hentai economics is the analysis and study of the economic principle outside the mainstream or orthodox economic thought. Unorthodox economics often involves socialism, Marxism, Post Keynesianism, and Austria, and often combines macroeconomic views in Keynesian economics with a way to criticize neoclassical economics. Heterodism economics provides an alternative to mainstream economics that may help explain widely unreliable economic phenomena. In addition, heresy economics incorporates social factors and historical factors into the analysis, and is trying to evaluate how the behavior of individuals and society changes market balance.