The Neoclassical Error Of Analysing The World Economy

Explain the following claim:

 

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‘The neoclassical error of analysing the world economy is based on the expected rational behaviour of “one representative agent”. Such an approach cannot do justice rational to the complexity and the historical uniqueness of events that may lead to phenomena like those that have come to be known as the global imbalance’ The Neoclassical Error Of Analysing The World Economy

 

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