A Critique Of Neo-Classical Macroeconomics And Monetarism

This post is primarily for students of economics.  It raises questions about  fundamental assumptions in economics such as the definition of economics as a response to scarcity.  More generally it proposes a way of thinking about economics that is more consistent with the ways that businesses and households actually operate.  It also argues that most of the models used by central bankers fail to reflect the basic operations of real economies. Economics is in need of a new paradigm.  This may point the way to for new paradigms to replace the neo-classical paradigm that has outlived its usefulness.