What is neoclassical economics?
Q: What is neoclassical economics?
A: Neoclassical economics is an economic theory that argues for markets to be free.
Q: What does the theory argue about governments?
A: The theory argues that governments should generally not make rules about types of businesses, businesses' behaviour, who may make things, who may sell things, who may buy things, prices, quantities or types of things sold and bought.
Q: What does the theory argue about individual actors?
A: The theory argues that allowing individual actors (people or businesses) freedom creates better economic outcomes.
Q: What are some of the outcomes of allowing individual actors freedom?
A: The outcomes may be a higher average standard of living, higher wages, better average life-expectancies, and higher GDP.
Q: What is the main argument of neoclassical economics?
A: The main argument of neoclassical economics is that market freedom leads to better economic outcomes.
Q: What is the role of governments in neoclassical economics?
A: The role of governments in neoclassical economics is limited, as they should generally not make rules about markets.
Q: What are some examples of things governments should not make rules about, according to neoclassical economics?
A: According to neoclassical economics, governments should generally not make rules about types of businesses, businesses' behaviour, who may make things, who may sell things, who may buy things, prices, quantities or types of things sold and bought.
