The widening gap between the rich and the poor worldwide in the past 40 years has prompted people to reflect on the #neoclassical economics that prevailed, not only reviewing #Keynesianism, but also going over the political economy represented by Adam Smith.
There is also a social ethical perspective besides the market and government perspectives，according to CF40 member Peng Wensheng. mp.weixin.qq.com/s/upwEkbRlSpdT…
The neoclassical school believes that the value of a commodity depends on its utility provided to consumers.
The latter is reflected in the willingness to pay of consumers.
The neoclassical school sees economics as similar to natural science.
The application of the mathematical model has been maximized that people often forget the important premise of given wealth distribution.
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