THE MICRO-MACRO DIVIDE OF NEOCLASSICAL ECONOMICS VS. THE MACRO-MICROSCOPIC CLASSICAL POLITICAL ECONOMY APPROACH
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ABSTRACT
This paper analyzes the historical and theoretical origins of the micro-macro division in neoclassical economics, contrasting it with the integrated framework of Classical Political Economy (CPE). Neoclassical economics, emerging in the late 19th century, replaced the Labor Theory of Value (LTV) with a subjective framework based on individual preferences. This shift created the basis for the bifurcation of the discipline, which was solidified by the monopolistic competition and Keynesian revolutions of the 1930s. However, the stagflation of the 1970s exposed the limitations of neoclassical theory, and attempts to address them via microfoundations proved largely inadequate. In contrast, CPE views capitalism as an interconnected system defined by class relations and capital accumulation. By grounding aggregate variables in labor values, CPE provides a unified macro-microscopic perspective capable of coherently explaining effective demand, growth, and stagnation.
LA BRECHA MICRO-MACRO DE LA ECONOMÍA NEOCLÁSICA FRENTE AL ENFOQUE MACRO-MICROSCÓPICO DE LA ECONOMÍA POLÍTICA CLÁSICA
RESUMEN
Este trabajo analiza los orígenes históricos y teóricos de la división micro-macro en la economía neoclásica, en contraste con el marco integrado de la Economía Política Clásica (EPC). La economía neoclásica, surgida a finales del siglo XIX, sustituyó a la teoría del valor-trabajo (TVT) por un enfoque subjetivo basado en las preferencias individuales. Este giro sentó las bases de la bifurcación de la disciplina, que se consolidó con las revoluciones de la competencia monopolística y del keynesianismo en la década de 1930. Sin embargo, la estanflación de la década de 1970 puso en evidencia las limitaciones de la teoría neoclásica, y los intentos por superarlas mediante las microfundamentaciones resultaron en gran medida inadecuados. En contraste, la EPC concibe al capitalismo como un sistema interconectado definido por las relaciones de clase y la acumulación de capital. Al fundamentar las variables agregadas en los valores-trabajo, la EPC ofrece una perspectiva macro-micro unificada, capaz de explicar de manera coherente la demanda efectiva, el crecimiento y el estancamiento.
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