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Free University Berlin: Demand, Competition and Money

Summary:
The organisers asked me to cover some of the critiques in Debunking Economics (http://www.amazon.com/Debunking-Economics-Expanded-Integrated-Dethroned-ebook/dp/B00A76X054), so I explained the failure of Neoclassical Economics to derive a market demand curve from individual ones (the “Sonnenschein-Mantel-Debreu Theorem”) and the invalidity of the model of perfect competition (http://www.paecon.net/PAEReview/issue53/KeenStandish53.pdf)

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The organisers asked me to cover some of the critiques in Debunking Economics (http://www.amazon.com/Debunking-Economics-Expanded-Integrated-Dethroned-ebook/dp/B00A76X054), so I explained the failure of Neoclassical Economics to derive a market demand curve from individual ones (the “Sonnenschein-Mantel-Debreu Theorem”) and the invalidity of the model of perfect competition (http://www.paecon.net/PAEReview/issue53/KeenStandish53.pdf)


Steve Keen
Steve Keen (born 28 March 1953) is an Australian-born, British-based economist and author. He considers himself a post-Keynesian, criticising neoclassical economics as inconsistent, unscientific and empirically unsupported. The major influences on Keen's thinking about economics include John Maynard Keynes, Karl Marx, Hyman Minsky, Piero Sraffa, Augusto Graziani, Joseph Alois Schumpeter, Thorstein Veblen, and François Quesnay.

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