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The aim is to systematically reinterpret neoclassical economic theory, highlighting its contributions and limitations.

April 10, 2026Open Access

Contributions of Neoclassical Theory, Its Limitations, and the Future of Economic Theory

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The aim is to systematically reinterpret neoclassical economic theory, highlighting its contributions and limitations.
Examined foundational theories and structural limitations of neoclassical economics.
Analyzed the role of institutions in economic outcomes.
Proposed a novel perspective on economic crises based on rational expectations.
Distinguished between types of technological investments.
Suggested an expanded economic framework integrating various dimensions.
Identified multiple equilibria undermining uniqueness and social optimality.
Proposed that economic crises stem from rational expectations regarding institutional capacity.
Provided explanations for divergent economic trajectories of countries.
Advocated for an Economy of Belonging as a new evaluative framework.

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This analysis reinterprets neoclassical economic theory, revealing limitations and implications for future frameworks.

Carlos Federico Obregon Diaz (2026) studied this question.

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