1.0Economic renthttps://economicrent.euArend Stemerdinghttps://economicrent.eu/index.php/author/arendstemerding-net/rich600338<blockquote class="wp-embedded-content"><a href="https://economicrent.eu/index.php/2018/08/31/literature-1900-2008-neoclassical-economics-and-neoliberalism/">Literature 1900 – 2008, Neoclassical economics and neoliberalism</a></blockquote> <script type='text/javascript'> <!--//--><![CDATA[//><!-- /*! This file is auto-generated */ !function(d,l){"use strict";var e=!1,o=!1;if(l.querySelector)if(d.addEventListener)e=!0;if(d.wp=d.wp||{},!d.wp.receiveEmbedMessage)if(d.wp.receiveEmbedMessage=function(e){var t=e.data;if(t)if(t.secret||t.message||t.value)if(!/[^a-zA-Z0-9]/.test(t.secret)){var r,a,i,s,n,o=l.querySelectorAll('iframe[data-secret="'+t.secret+'"]'),c=l.querySelectorAll('blockquote[data-secret="'+t.secret+'"]');for(r=0;r<c.length;r++)c[r].style.display="none";for(r=0;r<o.length;r++)if(a=o[r],e.source===a.contentWindow){if(a.removeAttribute("style"),"height"===t.message){if(1e3<(i=parseInt(t.value,10)))i=1e3;else if(~~i<200)i=200;a.height=i}if("link"===t.message)if(s=l.createElement("a"),n=l.createElement("a"),s.href=a.getAttribute("src"),n.href=t.value,n.host===s.host)if(l.activeElement===a)d.top.location.href=t.value}}},e)d.addEventListener("message",d.wp.receiveEmbedMessage,!1),l.addEventListener("DOMContentLoaded",t,!1),d.addEventListener("load",t,!1);function t(){if(!o){o=!0;var e,t,r,a,i=-1!==navigator.appVersion.indexOf("MSIE 10"),s=!!navigator.userAgent.match(/Trident.*rv:11\./),n=l.querySelectorAll("iframe.wp-embedded-content");for(t=0;t<n.length;t++){if(!(r=n[t]).getAttribute("data-secret"))a=Math.random().toString(36).substr(2,10),r.src+="#?secret="+a,r.setAttribute("data-secret",a);if(i||s)(e=r.cloneNode(!0)).removeAttribute("security"),r.parentNode.replaceChild(e,r)}}}}(window,document); //--><!]]> </script><iframe sandbox="allow-scripts" security="restricted" src="https://economicrent.eu/index.php/2018/08/31/literature-1900-2008-neoclassical-economics-and-neoliberalism/embed/" width="600" height="338" title="“Literature 1900 – 2008, Neoclassical economics and neoliberalism” — Economic rent" frameborder="0" marginwidth="0" marginheight="0" scrolling="no" class="wp-embedded-content"></iframe>https://economicrent.eu/wp-content/uploads/2018/08/consumer-choice.jpeg750422In the 20th century economic theory was dominated by the neoclassical approach. Neoclassical theories focus on markets with perfect competition, complete information, no uncertainty, and rational humans. Given these assumptions, there is no economic rent. The neoclassical theory did acknowledge that monopoly rent can exist, but this was seen as an exception that was supposed […]