INTERMEDIATE

Neoclassical Economics

MARCH 14, 2013

A dominant branch of economics which began during the “marginalist revolution.” Neoclassical economists used marginal analysis to study markets and non-Austrian neoclassical economists put special emphasis on market equilibrium prices. The models of the latter group assume that individuals attempt to maximize personal benefit at the margin. Early neoclassical economists include William Stanley Jevons, Léon Walras, Knutt Wicksell, Alfred Marshall, Carl Menger, and Thorstein Veblen. 

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September 2014

For centuries, hierarchical models dominated human organizations. Kings, warlords, and emperors could rally groups--but also oppress them. Non-hierarchical forms of organization, though, are increasingly defining our lives. It's no secret how this has benefited out social lives, including dating, and it's becoming more commonplace even in the corporate world. But it's also now come even to organizations bent on domination rather than human flourishing, as the Islamic State shows. If even destructive groups rely on this form of entrepreneurial organization, then hierarchy's time could truly be coming to an end.
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