Tisdell, Clement A. - School of Economics, University of Queensland - 2010
optimal. The extent to which (traditional) neoclassical economics elucidates the matter is explored. It is found that due to … traditional welfare economics. Nevertheless, neoclassical economics fails to address adequately the requirements for sustainable … recommended by neoclassical economics is socially optimal. Some economists (for example, Ramsey and Pigou) claim that the …