Question

are capitalism and neoclasical economic system the same ?

Answer 1

Abstract

First of all we need to understand the key differences between this two terminologies

Capitalism is an economic system in which private individuals or businesses own capital goods. The production of goods and services is based on supply and demand in the general market- known as a market economy rather than through central planning—known as a planned economy or command economy.

Capitalism is an economic system in which the means of production and distribution are privately or corporately owned. Operations are funded by profits, and not controlled by a state government.

For Example, The United States is described as a "capitalist" economy

Whereas the main focus of Neoclassical economy was to extend marginal analysis to market structures other than pure competition, pure monopoly and duopoly.

Neoclassical economics is a broad theory that focuses on supply and demand as the driving forces behind the production, pricing, and consumption of goods and services. It emerged in around 1900 to compete with the earlier theories of classical economics.

To achive this requirement veral of the neoclassical economists took a far greater interest in the role of mone yin the economy than did the earlier marginalist.

Utility maximization is the source for the neoclassical theory of consumption, the derivation of demand curves for consumer goods, and the derivation of labor supply curves and reservation demand.

Imperfect competition is a type of market structure showing some but not all features of competitive markets.

For example, profit maximization lies behind the neoclassical theory of the firm,  while the derivation of demand curves leads to an understanding of consumer goods, and the supply curve allows an analysis of the factors of production.

Market supply and demand are aggregated across firms and individuals.