Frank Ackerman, Alejandro Nadal, Kevin P. Gallagher

The Flawed Foundations of General Equilibrium Theory (eBook, ePUB)

Critical Essays on Economic Theory

• Format: ePub

Produktbeschreibung

Does economic theory, and its many practical applications, rest on concrete foundations? Given the influence and prestige afforded to orthodox economic policy advice, apparently the answer is a resounding "yes." Economists Frank Ackerman and Alejandro Nadal present a fundamental challenge to this received wisdom, demonstrating that neither the abstractions of general equilibrium nor their real-world consequences, stand up to logical scrutiny. Themes critically analyzed in this book include: * Economics' assumptions about consumer behavior * Individual choices and the role of money * The Application of economic theory to current debates in globalization, trade and development. "The Flawed Foundations of General Equilibrium Theory "shows that there are fatal flaws in the standard theoretical model of a market economy. As such it will be an enlightening read for economists throughout the world of all persuasions.

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Produktdetails

• Verlag: Taylor & Francis
• Seitenzahl: 240
• Erscheinungstermin: 24. Juni 2004
• Englisch
• ISBN-13: 9781135997373
• Artikelnr.: 47893121

Autorenporträt

Frank Ackerman, Alejandro Nadal, Kevin P. Gallagher

Inhaltsangabe

Ackerman and Nedal. Introduction: Underneath the Flawed Foundations1.
Ackerman . Still Dead After All these Years ( Journal of Economic
Methodology )2. Nadal . Behind the Building Blocks: Commodities and
Agents3. Benetti . Money and Prices: Commodities and Agents4. Benetti,
Nadal, Salas , The Law of Supply and Demand in the Proof of Existence of
General Competitive Equilibrium5. Ackerman , Consumed in Theory ( Journal
of Economic Issues 1997 )6. Nadal , Choice of Technique Revisited ( World
Development 1990 )7. Ackerman , Existence Values and Priceless
Externalities8. Nadal, Contradictions of the Open Economy Model9. Ackerman.
An Offer You Can't Refuse10. Ackerman , Gallagher. Computable
Abstraction11. Nadal . Freedom and Submission: Individuals and the
Invisible Hand (early version in Analisis Economico , Mexico City, 1998)