"The school of economics emerging in the UK and the USA in the late nineteenth century, after ‘the Marginal Revolution’, marshall, edgeworth, pareto, wicksell and walras being its most prominent founders. Building on marginal analysis, it dominates much of US economics today, especially at Chicago University. It takes the view that an economy's equilibrium will occur after a disturbance because of a tâtonnement process with flexible wages and prices. As prices disseminate information and provide incentives for economic agents, economic plans and activities are co-ordinated."

-- Excerpt from the definition of "neoclassical economics" from Routledge Dictionary of Economics (2013)

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