Description - The Principles of Economics by Lawrence Boland
Should we accept the principles of neoclassical economics? The Principles of Economics attempts to develop effective critiques of neoclassical economics and it is primarily directed towards the neoclassical economist. The focus of the critiques are the foundations of neoclassical theory, beginning with those Marshall identified as the Principles of Economics'. Paramount amongst these is the assumption of maximizing behaviour. This has proved a common target for criticism but a lot of this has been surprisingly unsuccessful. Lawrence Boland highlights the problems of effective model building without this assumption and argues that critics might be better rewarded if they concentrated on Marshall's other key principle, the Principle of Continuity'.
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