color of law definition: nThe conduct of a police officer, judge, or another person clothed with governmental authority that, although it superficially appears to be within the individualâs lawful power, is actually in contravention of the law. For exampl...
What is 'Neoclassical Economics'. Neoclassical economics is an approach to economics that relates supply and demand to an individual's rationality and his ability to maximize utility or profit. Neoclassical economics also uses mathematical equations to study of various aspects of the economy.
What is neoclassical economics? New rule: the term neo- shall never be applied to anything other than Keanu Reeves' character in The Matrix. OK, just kidding. But it's time to talk about one of my pet reeves...er, peeves - the use of the term neoclassical economists.