Instead of focusing on how power,norms,and values shape markets,neoclassical economists argue that:

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Neoclassical economists believe that free markets maximize economic growth and that government regulation should be minimized to allow for the efficient allocation of resources. They also argue that high profits and high wages can occur together in a competitive market. However, they also recognize that market failures can occur and advocate for policies such as property rights and contract enforcement to address these issues. Neoclassical economists do not necessarily support a minimum wage as they believe that it can lead to unemployment by increasing the cost of labor for businesses.

Instead of Focusing on How Power,norms,and Values Shape Markets,neoclassical Economists