The paper examines Myrdal's presentation of a “cumulative causation approach” in opposition to the dominant one. It argues that the literature has overlooked that he criticised the logical consistency of neoclassical theory, stating that it is based on unsatisfactory assumptions regarding the characterisation of individual preferences, and that his contribution is still relevant to appraise some recent trends in the literature on growth, to appreciate why some views with poor foundations sometimes prevail in the society and in research activity, and to assess some limits of the dominant theoretical approach, which are again at the centre of scientific research.
Myrdal, growth processes and equilibrium theories / Panico, Carlo; Rizza, M. O.. - (2007). (Intervento presentato al convegno Confucianism, rule of law and economic development tenutosi a Hong Kong Politechnic nel 3-6 gennaio).
Myrdal, growth processes and equilibrium theories
PANICO, CARLO;
2007
Abstract
The paper examines Myrdal's presentation of a “cumulative causation approach” in opposition to the dominant one. It argues that the literature has overlooked that he criticised the logical consistency of neoclassical theory, stating that it is based on unsatisfactory assumptions regarding the characterisation of individual preferences, and that his contribution is still relevant to appraise some recent trends in the literature on growth, to appreciate why some views with poor foundations sometimes prevail in the society and in research activity, and to assess some limits of the dominant theoretical approach, which are again at the centre of scientific research.I documenti in IRIS sono protetti da copyright e tutti i diritti sono riservati, salvo diversa indicazione.
