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Economic Theory and the Big Economy

Author: DAVID JOHN FARMER
Published in PAQ, Vol. 38 No. 1


This paper analyzes an imbalance in mainstream economic theory between robust methodology and slender substance. It suggests that the rigor and science reputation of its methodology - at the cost of slenderness of its substance - allows economics to be a stronger theoretical pillar of market fundamentalism (i. e., neoliberalism or the free market). Implications are explained for Public Administration theorizing and practice. These include developing the conceptual notion of Big Economy.

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