Neoclassical economics is a theory or an approach to economics that deals with an individual's

ability to maximize profit through supply and demand. In this world with limited resources,
people are quite known to have unending amounts of desires. This then leads to competition
between products of different brand in value through adjustments in price, production, and
interest rates to a much lower value while generating greater wealth.

Neoclassical economics specifies that, given the input costs of the output, its value can be far
greater than it. Example here is that, in classical economics, the value of the output is derived
from its variable and fixed cost while in neoclassical, the value is from the perception of the
customer whether it’s that of a greater value or lower which, in turn, affects the products price
and demand.

Market fundamentalism (also known as free market fundamentalism) is a political

epithet for laissez-faire or free market economic views or policies.

The term denotes an unfounded or misguided belief, or deliberate deception, that free
markets provide the greatest possible equity and prosperity, and that any interference
with the market process decreases social well-being. Market fundamentalism includes
an unshakable belief that free markets maximize individual freedom, and that they are
the only means to economic growth. Market fundamentalists believe that markets tend
towards a natural equilibrium, and that the best interests in a given society are achieved
by allowing its participants to pursue their own financial self-interest.

Kozul-Wright states that the “ineluctability of market forces” neo-liberals and

conservative tend to stress and their confidence rest on a “mixture of implicit and hidden
assumptions, myths about the history of their own countries’ economic development,
and special interests camouflaged in their rhetoric of general good.”

The expression is now used to signify an unjustified belief in the ability of markets to
solve all problems in a society, or groups which strongly advocate against any
state Regulation and defend a totally free market. It is also used to disparage the
arguments of “the virtues of radical free-market economics.”