What is Neoclassical Political Economy?
Quora question.
What are the perspectives of neoclassical political economy?
Neoclassical political economy is a perspective that emphasizes the importance of economic efficiency and individual choice in shaping economic and political outcomes. It is based on the idea that free markets, if left to operate without government interference, will lead to optimal economic outcomes. Neoclassical economists argue that government intervention in the economy should be limited to addressing market failures and protecting property rights. They also advocate for the use of cost-benefit analysis to evaluate government policies and tend to focus on microeconomic issues such as consumer behavior and market structure.
