A Radical Reformation of Neoclassical Economics: Market Equilibrium, Perfect Competition, Value Theory, Income Distribution, Social Welfare (Paperback) (ISBN-13: 9789975153393)

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.

Author: Dimitrios Nomidis
ISBN-10: 9975153399
ISBN-13: 9789975153393
Publisher: Generis Publishing
Language: English
Published: 09/02/2020
Pages: 62
Format: Paperback
Weight: 0.28lbs
Size: 9.00h x 6.00w x 0.16d