Contemporary Substitutes of the Political Economy
Contemporary Substitutes of the Political Economy

Summary/Abstract: The subject of this paper is a critique of the selective theoretical modelings of economic realities, whichare monistic (quasi-neoliberal) and mathematical-statistical in nature. In this sense, the theme namedContemporary Substitutes of the Political Economy is defined. The aim of this research is that the above-mentionedmodeling of economic reality would be described as a deliberate motion from the analysis and explanationof fundamental economic problems towards secondary issues. Therefore, we characterize them as unfairand programmed ways of fogging the essence of economic problems and crisis. We start from the hypothesisthat these modelings replaced and virtually eliminated the former synthesized and useful political-economicanalysis. In this paper, we have used a descriptive, comparative methods, panel sample and aschematic logic modeling. The results of our research show that the substitution of political economy by neoclassicaland neoliberal economics is performed over a longer period, and through prioritizing the mathematicaland statistical econometric analysis. As a proof, we present our selective research panel using a sampleof 39 issues from five international journals, which can be found in databases SSCI and Scopus. This researchis limited by the unavailability of most journals on the Internet and in printed publications. The applicationarea of the research results is an economic theory. In conclusion, we ascertain the need for greateraffirmation of political economy, which in combination with new institutional theory, enables a more realisticview of social and economic reality.

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