Understanding Markets

Roger D. Johnson

Chapter Chapter 7 in Rediscovering Social Economics, 2017, pp 87-101 from Palgrave Macmillan

Abstract: Abstract The reliance of Neoclassical economists on mathematics as their primary form of discourse induces them to impose equilibrium analysis on every scenario rather than accepting the type of pragmatic, bounded determinacy suggested by Smith and modern statistical analysis. When reality unavoidably fails to match this theoretical ideal, the innate tendency is to advocate policies and legal parameters that impose the requisite perfectly competitive behavioral conditions on the scenario instead of designing policies that reflect actual human behaviors and social structures.

Keywords: Market Equilibrium; Supply Curve; Neoclassical Economist; Mainstream Economist; Perfect Competition (search for similar items in EconPapers)
Date: 2017
References: Add references at CitEc
Citations:

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:pal:pfschp:978-3-319-51265-5_7

Ordering information: This item can be ordered from
http://www.palgrave.com/9783319512655

DOI: 10.1007/978-3-319-51265-5_7

Access Statistics for this chapter

More chapters in Perspectives from Social Economics from Palgrave Macmillan
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().