Ideology and neoclassical thought: Perfect competence as original myth

Authors

  • Manuel Antonio Jiménez-Castillo El Colegio de la Frontera Norte

Abstract

The purpose of this paper aims to unravel the ideological strategy that rises from the well-celebrated epistemic rigor of neoclassical economic thought. From the Economics Nobel Price Paul Krugman’s popularized connotation naming to “freshwater” economists as those fervent followers of the most orthodox academic creed, we will expose the logical inconsistency and empirical implausibility of such thought’s underlying assumptions: perfect competence and equilibrium’s approaching. From a critical analysis that will be conducted from each of those mentioned assumptions, we will argued that the neoclassical thought is an ideological strategy subverting reality’s principles, overcoming “artificially” those relevant deficiencies and limitations of its theoretical approach.

Keywords:

competence, knowledge, equilibrium, ideology, neoclassical school