Structural and behavioural asymmetries as the norm of market Economies

Les asymétries structurelles et comportementales comme normes des économies de marché

Albert Marouani ()
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Albert Marouani: GREDEG - Groupe de Recherche en Droit, Economie et Gestion - UNS - Université Nice Sophia Antipolis (1965 - 2019) - CNRS - Centre National de la Recherche Scientifique - UniCA - Université Côte d'Azur, COMUE UCA - COMUE Université Côte d'Azur (2015-2019)

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Abstract: Standard neo-classical economic theory is based on the idea of balance and symmetry between opposing forces (supply and demand). Most situations in the field of macroeconomics, in particular, are of a structurally asymmetrical nature. The same is true about the behavior of all agents because asymmetry of information is a characteristic of any contractual relationship in any market. Classical economists, as well as other heterodox economists, also consider that asymmetry, inequality and the conflicts of power and domination are at the very heart of market relations and explain the historical dynamics of the evolution of market economies. In these circumstances, it should be considered that the asymmetrical relationship must be regarded as the norm of the market economy.

Keywords: asymmetry; neoclassical economics; market; equilibrium; econometrics; macroeconomics; classical economics; evolutionary economics; structure (search for similar items in EconPapers)
Date: 2018-03-15
New Economics Papers: this item is included in nep-hme and nep-hpe
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Published in FIRST EUROPEAN ASIMMETRY SYMPOSIUM, Mar 2018, Nice, France

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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:halshs-01965258

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