neoclassical economics
E52109
Neoclassical economics is a dominant school of economic thought that explains prices, output, and income distribution primarily through marginal analysis, individual rational choice, and market equilibrium.
All labels observed (3)
| Label | Occurrences |
|---|---|
| neoclassical economics canonical | 12 |
| Marshallian economics | 1 |
| Principles of Economics | 1 |
How this entity was disambiguated
This entity first appeared as the object of triple T412940 — resolving that mention is where its identity was fixed. The disambiguator weighed these candidate entities and picked the highlighted one (or “None”, minting a new entity). This is how homonymy is resolved: the same surface form can point to different entities.
NED1
Entity disambiguation (via context triple)
gpt-5-mini-2025-08-07
Target entity: neoclassical economics Context triple: [David Ricardo, influenced, neoclassical economics]
-
A.
classical economics
Classical economics is a school of economic thought, originating in the late 18th century, that emphasizes free markets, competition, and the idea that self-interested behavior can lead to socially beneficial outcomes.
-
B.
New Keynesian economics
New Keynesian economics is a modern macroeconomic framework that incorporates rational expectations and micro-founded price and wage rigidities to explain short-run economic fluctuations and justify active stabilization policy.
-
C.
Keynesian economics
Keynesian economics is a macroeconomic theory that emphasizes the role of aggregate demand and government intervention in stabilizing economic fluctuations and reducing unemployment.
-
D.
Economic Sciences
Economic Sciences is the academic discipline that studies how individuals, businesses, governments, and societies allocate scarce resources and make decisions about production, distribution, and consumption.
-
E.
Theoretical Economics
Theoretical Economics is a peer-reviewed academic journal that publishes research in economic theory, including microeconomic theory, game theory, and related fields.
- F. None of above. chosen
- G. Unsure - the case is ambiguous/there is not enough information to decide.
NED2
Entity disambiguation (via description)
gpt-5-mini-2025-08-07
Target entity: neoclassical economics Target entity description: Neoclassical economics is a dominant school of economic thought that explains prices, output, and income distribution primarily through marginal analysis, individual rational choice, and market equilibrium.
-
A.
classical economics
Classical economics is a school of economic thought, originating in the late 18th century, that emphasizes free markets, competition, and the idea that self-interested behavior can lead to socially beneficial outcomes.
-
B.
New Keynesian economics
New Keynesian economics is a modern macroeconomic framework that incorporates rational expectations and micro-founded price and wage rigidities to explain short-run economic fluctuations and justify active stabilization policy.
-
C.
Keynesian economics
Keynesian economics is a macroeconomic theory that emphasizes the role of aggregate demand and government intervention in stabilizing economic fluctuations and reducing unemployment.
-
D.
Economic Sciences
Economic Sciences is the academic discipline that studies how individuals, businesses, governments, and societies allocate scarce resources and make decisions about production, distribution, and consumption.
-
E.
Theoretical Economics
Theoretical Economics is a peer-reviewed academic journal that publishes research in economic theory, including microeconomic theory, game theory, and related fields.
- F. None of above. chosen
Statements (50)
| Predicate | Object |
|---|---|
| instanceOf |
economic theory
ⓘ
school of economic thought ⓘ |
| associatedWith |
Alfred Marshall
ⓘ
Carl Menger ⓘ John R. Hicks ⓘ
surface form:
John Hicks
Leon Walras ⓘ
surface form:
Léon Walras
Paul Samuelson ⓘ Vilfredo Pareto ⓘ William Stanley Jevons ⓘ |
| assumes |
diminishing marginal returns
ⓘ
diminishing marginal utility ⓘ profit maximization by firms ⓘ rational agents ⓘ utility maximization by consumers ⓘ |
| contrastedWith |
Keynesian economics
ⓘ
Marxism ⓘ
surface form:
Marxian economics
institutional economics ⓘ |
| coreTool |
calculus
ⓘ
comparative statics ⓘ constrained optimization ⓘ |
| criticizedFor |
limited treatment of power and inequality
ⓘ
neglect of institutions ⓘ strong rationality assumptions ⓘ |
| developedFrom | classical economics ⓘ |
| emergedInPeriod | late 19th century ⓘ |
| emphasizes |
individual rational choice
ⓘ
marginal analysis ⓘ market equilibrium ⓘ |
| explains |
distribution of income
ⓘ
factor pricing ⓘ price formation ⓘ resource allocation ⓘ |
| focusesOn |
income distribution
ⓘ
output ⓘ prices ⓘ |
| influenced |
mainstream macroeconomics
ⓘ
modern microeconomics ⓘ |
| normativeImplication | efficiency of competitive markets ⓘ |
| usesConcept |
consumer surplus
ⓘ
general equilibrium ⓘ imperfect competition ⓘ marginal cost ⓘ marginal revenue ⓘ marginal utility ⓘ partial equilibrium ⓘ perfect competition ⓘ producer surplus ⓘ supply and demand ⓘ welfare economics ⓘ |
| viewsMarketAs | tending toward equilibrium ⓘ |
How these facts were elicited
The pipeline generated the facts above by prompting gpt-5.1 with this entity's name + description and the instruction below.
Instruction
You are a knowledge base construction expert. Given a subject entity and a description of it, return factual statements that you know for the subject as a JSON list of dictionaries(triples), where keys must be "subject", "predicate" and "object". The number of facts may be very high, between 25 to 50 or more, for very popular subjects. For less popular subjects, the number of facts can be very low, like 5 or 10. # Requirements - If you don't know the subject at all, return an empty list. - If the subject is not a named entity, return an empty list. - Include at least one triple where predicate is "instanceOf". - Do not get too wordy. - Separate several objects into multiple triples with one object.
Input
Subject: neoclassical economics Description of subject: Neoclassical economics is a dominant school of economic thought that explains prices, output, and income distribution primarily through marginal analysis, individual rational choice, and market equilibrium.
Referenced by (14)
Full triples — surface form annotated when it differs from this entity's canonical label.
this entity surface form:
Principles of Economics
this entity surface form:
Marshallian economics
subject surface form:
T. N. Srinivasan