![]() It has substituted, for Marx’s own theory, an equilibrium ‘reading’ of Marx that removes, from the theory, its capacity to explain crisis. This is illustrated by a detailed discussion of the profession’s treatment of Marx’s value theory. The reason for this is the substitution of a dogma – equilibrium, or comparative statics – for scientific enquiry. ![]() Increasingly, it plays a religious rather than an explanatory role. Available at SSRN: 'Įconomics, it argues, has lost its way and has proven itself incapable of reasoning or explaining the world we observe. European Association for Evolutionary Political Economy (EAEPE), 1997. If They're so Rich, Why Aren't They Smart? Another Prelude to the Critique of Economic Theory (November 6, 1997). This is a mirror, deposited with MPRA for completeness, of the same paper at the Social Science Research Network, which can be found at.
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