The Principles of Economics: Some Lies My Teacher Told Me

Should we accept the principles of neoclassical economics?The Principles of Economicsdevelops effective critiques of neoclassical economics and focuses on the importance of criticism as a tool for enhancing understanding. The focus of the critiques is on the foundations of neoclassical theory, beginning with those that Alfred Marshall called the "Principles of Economics." Lawrence Boland highlights the problems of effective model building without drawing on the common assumption of maximizing behavior--a frequent target of criticism. Boland argues that critics should turn to Marshall's other key principle, the "Principle of Continuity," for best results. The Principles of Economicsdemonstrates that there is still much to be done to make neoclassical economics more realistic. The right place to begin is with an honest, yet constructive, criticism of the principles of economics.