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For as long as one can remember, the edifice of the neoclassical
economic syn thesis has been under attack. Critiques have focused
on the extreme unreality of the assumptions that underpin the
Arrow-Debreu theorems of welfare economics. They have queried the
excessive formalism of the edifice, and the lack of practical
significance of many of the results.They have castigated the
neoclassical synthesis for its internal incoherence (lacking an
independent theory of capital, for example, one of the favorite
topics of the Cambridge school), its lack of a dynamic element, its
non-evolutionary character, its lack of any conception of "market
process" and so the list could be continued (Blaug, 1997). Through
all this, the neoclassi cal synthesis remains as strong as ever,
impervious it seems to these or any other attacks. In this paper a
different tack is taken. The neoclassical edifice is left alone,
standing as a representation of what goes on in a certain kind
ofeconomy- namely the economy wheregoods and services are
producedand exchanged. The paper then introduces another kind of
economy, namely an economy of productive entities called
"resources"- that are needed to produce the economyofgoods and
services."
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