Anti-Meritocratic Economics in the Contemporary Era: The Issues with the Neoclassical Theory

Maxfield, Sean (2021): Anti-Meritocratic Economics in the Contemporary Era: The Issues with the Neoclassical Theory.

Abstract

No longer does society consider the full extent of the argument and consequences or benefits of a system change. All the record-breaking economic success of the last few decades simply furthers a divide between people/organizations that have money and people/organizations that need money. However, those that can view this divide assign the capitalistic system as the culprit when in fact it is the modern mutation of capitalism that is at fault. Within modern neoclassical economies, there is no form of value-based meritocracy between people and organizations.

• Item Type: MPRA Paper
• Language: English
• Keywords: economics, econ, economic, economy, economies, neoclassical, classical, capitalism, Adam Smith, socialism, price, prices, markets, valuation, value, hierarchies, hierarchical, monetary, equity, finance, financial, financial services, exchanges, stock markets, secondary markets, businesses, inflation
• Subjects: A - General Economics and Teaching > A1 - General Economics; A - General Economics and Teaching > A1 - General Economics > A10 - General; A - General Economics and Teaching > A1 - General Economics > A11 - Role of Economics ; Role of Economists ; Market for Economists; A - General Economics and Teaching > A1 - General Economics > A13 - Relation of Economics to Social Values; A - General Economics and Teaching > A2 - Economic Education and Teaching of Economics; A - General Economics and Teaching > A2 - Economic Education and Teaching of Economics > A20 - General; B - History of Economic Thought, Methodology, and Heterodox Approaches > B0 - General; B - History of Economic Thought, Methodology, and Heterodox Approaches > B1 - History of Economic Thought through 1925; B - History of Economic Thought, Methodology, and Heterodox Approaches > B2 - History of Economic Thought since 1925; B - History of Economic Thought, Methodology, and Heterodox Approaches > B3 - History of Economic Thought: Individuals; B - History of Economic Thought, Methodology, and Heterodox Approaches > B4 - Economic Methodology; E - Macroeconomics and Monetary Economics > E0 - General; E - Macroeconomics and Monetary Economics > E6 - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook; G - Financial Economics > G0 - General; N - Economic History > N0 - General; N - Economic History > N1 - Macroeconomics and Monetary Economics ; Industrial Structure ; Growth ; Fluctuations; P - Economic Systems > P1 - Capitalist Systems; P - Economic Systems > P1 - Capitalist Systems > P10 - General; P - Economic Systems > P1 - Capitalist Systems > P12 - Capitalist Enterprises; P - Economic Systems > P1 - Capitalist Systems > P16 - Political Economy; P - Economic Systems > P5 - Comparative Economic Systems; P - Economic Systems > P5 - Comparative Economic Systems > P51 - Comparative Analysis of Economic Systems

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