Society

Michael Allingham
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Michael Allingham: University of Kent

Chapter 4 in Value, 1983, pp 21-31 from Palgrave Macmillan

Abstract: Abstract Given the nature of commodities and agents I now enquire whether society as a whole accepts the market mechanism. This will only be the case if the allocation of commodities which society as a whole receives under the market mechanism is better, in some sense, than any other possible allocation. This is a first requirement for equilibrium prices to be relevant.

Date: 1983
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DOI: 10.1007/978-1-349-17001-2_4

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