Which of the following is a criticism of the neoclassical counter-revolution school's approach?
A)markets are not competitive in developing countries.
B)externalities are common in developing countries.
C)inequality may worsen when interventions are removed in developing countries.
D)all of the above.

Question

Quizplus · Accepted Answer

All of the above are criticisms of the neoclassical counter-revolution school's approach. This approach assumes that markets are naturally efficient and self-correcting, and that government interventions are unnecessary and potentially harmful. However, critics argue that markets may not be competitive in developing countries, and that externalities such as pollution and resource depletion are common. Additionally, removing government interventions may worsen inequality in these countries.

Which of the Following Is a Criticism of the Neoclassical