The Flawed Foundations of General Equilibrium Theory: Critical Essays on Economic Theory

ISBN-13: 9780415700016 / Angielski / Twarda / 2004 / 240 str.

Frank Ackerman; Alejandro Nadal;Ackerman Frank

Opis

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.

Spis treści

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)

O autorze

Frank Ackerman, Alejandro Nadal, Kevin P. Gallagher