DEVS 230 Midterm: DEVS 230 Midterm study.pdf

• School: Queen's University
• Department: Global Development Studies
• Course: DEVS 230
• Professor: Susanne M Soederberg

Document Summary

!3-what is the nature and source(s) of power?see ipe! Existence of market equilibrium" just making sure that the government is out of the economy, and rational individuals/economist take power - abstract approach not interested in explaining concrete, visible realities in the economy. Mathematical modelling becomes increasingly more important in neoclassical economics - the importance of market forces in neoclassical economics. It"s a harmonious interaction with producers, consumers and investors in the same playing field. It has no place for the states though. Rational individuals make choices of what they can do. Exports are important - wcr = getting economics right" neoliberal politics underpin neoclassical economics; there is no such thing as neoliberal economics. !- neoliberalism is the expression of neoclassical economics !- wcr is a neoliberal regime based on neoclassical economics. Generally, long-term and relatively stable compared to fpi. !fpi: investment in company stocks and bonds (government or company).