The meaning of gainful trade

Mohammad Gani ()

International Trade from University Library of Munich, Germany

Abstract: 'Gainful trade: a new economics' explains why and how economics may be rebuilt from scratch to allow the occurence of gainful trade. It uses a new concept of consistency of social choice and a new analytical tool called consistency analysis to build a unified model of economics. It answers all questions of macroeconomics from an extended micro model. The new paradigm makes macroeconomics obsolete. The key element is the treatment of money as a means of payment to allow indirect exchange.

Keywords: Trade; gains; consistent choice; money as a means of payment; entrepreneurship; allocation (search for similar items in EconPapers)
JEL-codes: B22 B31 C68 D46 D72 (search for similar items in EconPapers)
Pages: 16 pages
Date: 2004-05-26
Note: Type of Document - pdf; pages: 16. If trade is gainful, the Ricardo-Walras-Arrow-Debreu allocation tradition is mistaken. Economics must be rebuilt as science of exchange.
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Persistent link: https://EconPapers.repec.org/RePEc:wpa:wuwpit:0405007

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