Is Anything Worth Keeping in Microeconomics?

Emmanuelle Benicourt and Bernard Guerrien
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Emmanuelle Benicourt: Université de Valenciennes et du Hainaut-Cambrésis, Paris, France, ebenicourt@free.fr
Bernard Guerrien: Université Paris 1 (Panthéon-Sorbonne), Paris, France, bernard.guerrien@tele2.fr

Review of Radical Political Economics, 2008, vol. 40, issue 3, 317-323

Abstract: Microeconomics' notions of “market supply†and “market demand†do not exist in real-world markets. Its models give a central place to equilibria, implying that they are predictions. It distracts from more essential aspects of economic behavior and exchange and encourages inventing absurd tales, especially concerning production. We should consider society as it is organized, with different social groups, norms, and customs, and then concentrate on decision making and choice.

Keywords: equilibrium; marginal productivity; market; prediction; substitutability (search for similar items in EconPapers)
Date: 2008
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Persistent link: https://EconPapers.repec.org/RePEc:sae:reorpe:v:40:y:2008:i:3:p:317-323

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