{"product_id":"an-era-of-the-wise-ruyu-zhao-9781487808372","title":"An Era of the Wise Man: The Expectation-Led Market Principle","description":"\u003ci\u003eAn Era of The Wise Man\u003c\/i\u003e is an economic critique of the price mechanism which underpins classical Western economics. In the contemporary era, particularly since the global financial crisis of 2007\/08, conventional free-market theory has proved fallible and ineffective in guiding economies out of crisis and generating robust growth. The author suggests adopting a new principle within economic theory, reflecting the imperfections of real-world markets rather than hypothetical perfect markets, and centering on demand expectation. \u003cp\u003e\u003c\/p\u003e With reference to China's rapid economic development in recent decades, this book advocates the expectation-led market principle, which draws a distinction between demand as defined by Adam Smith and classical economics, with that of demand based on expectations--a theory discussed at length in later chapters. Essentially, this theory rejects several assumptions that form the basis of classical economics; however, it does not dismiss conventional economics entirely. For readers interested in economics, this book provides a thorough rebuttal to economic orthodoxy and offers an alternative point of view.\u003cbr\u003e\u003cbr\u003e\u003cb\u003eAuthor:\u003c\/b\u003e Ruyu Zhao\u003cbr\u003e\u003cb\u003eISBN-10:\u003c\/b\u003e 1487808372\u003cbr\u003e\u003cb\u003eISBN-13:\u003c\/b\u003e 9781487808372\u003cbr\u003e\u003cb\u003ePublisher:\u003c\/b\u003e Royal Collins Publishing Company\u003cbr\u003e\u003cb\u003eLanguage:\u003c\/b\u003e English\u003cbr\u003e\u003cb\u003ePublished:\u003c\/b\u003e 11\/30\/2021\u003cbr\u003e\u003cb\u003ePages:\u003c\/b\u003e 192\u003cbr\u003e\u003cb\u003eFormat:\u003c\/b\u003e Hardcover\u003cbr\u003e\u003cb\u003eWeight:\u003c\/b\u003e 0.85lbs\u003cbr\u003e\u003cb\u003eSize:\u003c\/b\u003e 8.50h x 5.90w x 0.60d","brand":"Ruyu Zhao","offers":[{"title":"Hardcover","offer_id":48445166485759,"sku":"9781487808372","price":35.95,"currency_code":"USD","in_stock":false}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0662\/2982\/9887\/files\/img_2c9f50f3-13b5-4b18-86f1-233c9590eaa3.jpg?v=1777216961","url":"https:\/\/www.whiterainbookhouse.com\/products\/an-era-of-the-wise-ruyu-zhao-9781487808372","provider":"WR Book House","version":"1.0","type":"link"}