The Confutation of Conventional Microeconomic Theory : Perfect Competition, Value Theory, Market Equilibrium, Income Distribution, Social Welfare

Language: English

Published by Scholars' Press, 2018

6202308788 / 9786202308786

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Seller: AHA-BUCH GmbH, Einbeck, GermanyAHA-BUCH GmbH

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nach der Bestellung gedruckt Neuware - Printed after ordering - During the second half of twentieth century economic theory moved increasingly away from price theory, which was gradually displaced by more modern and complicated trends such as game theory, decision theory, behavioral-empirical-experimental economics etc. This was due to serious weaknesses and mistakes of the classic theory of perfect competition and value, the most important being the famous principle of price determination at the intersection of total demand and total supply, which does not maximize the profits of firms, although it should according to the classic theory itself. The revision of those faults entails dramatic changes in the conventional theory's fundamental outcomes concerning perfect competition, price determination, value theory, income distribution, social welfare and other major fields of economics. The new theory also proves mathematically the unavoidably monopolistic nature of the market, even under perfect competition, which entails an integrated theory for market equilibrium regardless of the number of firms, i.e. from monopoly to perfect competition. The subject addresses economists of all disciplines, as it refers to the basics of the economic science.…

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Bibliographic details

Title
The Confutation of Conventional Microeconomic Theory : Perfect Competition, Value Theory, Market Equilibrium, Income Distribution, Social Welfare
Author
Dimitrios Nomidis
Publisher
Scholars' Press
Publication year
2018
Condition
Neu
Binding
Taschenbuch
Language
English
ISBN 10
6202308788
ISBN 13
9786202308786
Item weight
155 grams
Dimensions
220x150x7 mm

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