Open Daily: 10am - 10pm | Alley door pickup 10am - 7pm 3038 Hennepin Ave Minneapolis, MN
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  • Open Daily: 10am - 10pm
    Alley-side Pickup: 10am - 7pm

    3038 Hennepin Ave Minneapolis, MN
    612-822-4611

Open Daily: 10am - 10pm | Alley-side Pickup: 10am - 7pm
3038 Hennepin Ave Minneapolis, MN
612-822-4611
A Radical Reformation of Neoclassical Economics: Market Equilibrium, Perfect Competition, Value Theory, Income Distribution, Social Welfare

A Radical Reformation of Neoclassical Economics: Market Equilibrium, Perfect Competition, Value Theory, Income Distribution, Social Welfare

Nomidis, Dimitrios

Paperback

Economics

ISBN10: 9975153399
ISBN13: 9789975153393
Publisher: Generis Pub
Published: Sep 2 2020
Pages: 62
Weight: 0.28
Height: 0.16 Width: 6.00 Depth: 9.00
Language: English
During the second half of the twentieth-century economic theory moved increasingly away from price theory, which was gradually displaced by more modern and complicated trends such as game theory, behavioral-empirical-experimental economics, neuroeconomics, heterodox economics, etc. This was due to serious shortcomings and mistakes of the traditional theory that is based on Neoclassical economics. The correction of those mistakes entails dramatic changes in the Neoclassical theory and its fundamental outcomes, concerning perfect competition, price determination, value theory, income distribution, social welfare, and other major fields of economics. This also results in an integrated theory in which market functions, regardless of the number of firms, i.e. from monopoly to perfect competition. Moreover, by this reformation traditional price theory regains its self-efficiency, prestige, and dominant position in economics.

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