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The Human Essence of Economics: A Microeconomic Textbook Alternative
Paperback
ISBN13: 9780996095563
Publisher: Lightning Source Inc
Published: Dec 16 2015
Pages: 110
Weight: 0.30
Height: 0.23 Width: 5.50 Depth: 8.50
Language: English
Producing so you can eat (and prosper) is the starting point in microeconomics.
Microeconomics is not about data and equations being used to generate graphs and diagrams - although unfortunately that is how microeconomics is taught and that is the reason why there is such a great divide between the real world and academic economics. Each person and every business firm has to produce something to earn an income to be used to satisfy cherished desires and objectives. In this book, which is the best microeconomics textbook, all of that is made clear.
At the heart is offering something of value in order to get those things that are regarded as more valuable. Value - which humans assign subjectively - is a supremely important part of microeconomics. You will love the value of this book and how it traces economic value to its source.
How do individuals discover and react to information in the market?
Prices that appear as part of the spontaneity of the market act like words, giving all things meaning. Those who are actively exercising their entrepreneurial spirit read the price messages and take risks, with their goal being to earn a profit by serving the consumer. It is this active involvement that drives the economy forward by dispersing the information throughout, and across the time horizon. All this is part of the language of the market.
What is different about The Human Essence of Economics?
It is qualitative analysis rather than quantitative analysis and it examines the economy in its real condition of dynamic disequilibrium rather than the fictitious condition of equilibrium.
Why is this approach better?
What really sets it apart is the microeconomic model.
The model shows the origin of subjective values.
The model is causal-realistic, moving from cause to effect, from virtue to service (or product).
The model shows how the entrepreneurial spirit activates the market.
This book delivers a new economic technology but it also makes clear how to apply the concept of competitive entrepreneurship to each step along the way in the real world of disequilibrium and uncertainty.
This is a book you will want to buy. Click the button and add it to your resource library.
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