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Criticisms regarding the neoclassical theory

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Reference no: EM132177381

What are some criticisms regarding the neoclassical theory based on this following statement:

"Neoclassical theory explains the distribution of income in capitalist economies as a reflection of (i) what individuals desire, (ii) what they bring to production (as resources or inputs), and (iii) technology."

Reference no: EM132177381

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