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What is Economic Action? From Marshall and Robbins to Polanyi and Becker

Published online by Cambridge University Press:  11 June 2009

Elias L. Khalil
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In the past three decades economics has entered a new phase in its development. The new stage did not involve a revolutionary change of basic tools as occurred with the triumph of neoclassical economics at the turn of the twentieth century and Keynesian economics in the post World War II era. Rather the recent mutation involves the introduction of economic tools of analysis into areas which have traditionally been part of contiguous disciplines. The invasion of economics came to be referred to, even by its enthusiasts (e.g., Stigler 1984; Radnitzky and Bernholz 1986), as “economics imperialism.”

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Journal of the History of Economic Thought , Volume 18 , Issue 1 , Spring 1996 , pp. 13 - 36
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Copyright © Cambridge University Press 1996

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