Homer: A Forerunner of Neoclassical Economics

Posada, Carlos Esteban (2012): Homer: A Forerunner of Neoclassical Economics.

Abstract

Homer clearly expressed the economic problem of choosing the best option among several alternatives given a certain set of restrictions. In the Odyssey he specifically wrote about the minimum cost choice. This kind of problem, as is well known, is at the heart of the neoclassical economics. We can therefore consider Homer a forerunner of this school of thought. This hypothesis contrasts with those of Trever (1916), Schumpeter (1954) and Schefold (1997).

• Item Type: MPRA Paper
• Language: English
• Keywords: Odyssey, minimum cost choice, neoclassical economics
• Subjects: B - History of Economic Thought, Methodology, and Heterodox Approaches > B1 - History of Economic Thought through 1925 > B13 - Neoclassical through 1925 (Austrian, Marshallian, Walrasian, Stockholm School); B - History of Economic Thought, Methodology, and Heterodox Approaches > B3 - History of Economic Thought: Individuals

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