by Summary:
The vision of consumers as utility-maximizers, and the downward sloping market demand curve--so that the quantity demanded of a product rises as its price falls--both seem so plausible. But the former has been contradicted by a very well-structured experiment, while the latter cannot be derived mathematically without incorporating the distribution of income as a fundamental aspect of economics--and Neoclassical microeconomics ignores the distribution of income.
Topics:
Steve Keen considers the following as important:
This could be interesting, too:
The vision of consumers as utility-maximizers, and the downward sloping market demand curve--so that the quantity demanded of a product rises as its price falls--both seem so plausible. But the former has been contradicted by a very well-structured experiment, while the latter cannot be derived mathematically without incorporating the distribution of income as a fundamental aspect of economics--and Neoclassical microeconomics ignores the distribution of income.
Topics:
Steve Keen considers the following as important:
This could be interesting, too:
NewDealdemocrat writes The snooze-a-than in jobless claims continues; what I am looking for in tomorrow’s jobs report
Bill Haskell writes Monthly payments could get thousands of homeless people off the streets
Angry Bear writes A Doctor at Cigna Said Her Bosses Pressured Her to Review Patients’ Cases Too Quickly
Steve Roth writes How Did Under-40s Get So Much Richer During Covid?
| The vision of consumers as utility-maximizers, and the downward sloping market demand curve--so that the quantity demanded of a product rises as its price falls--both seem so plausible. But the former has been contradicted by a very well-structured experiment, while the latter cannot be derived mathematically without incorporating the distribution of income as a fundamental aspect of economics--and Neoclassical microeconomics ignores the distribution of income. |
Thanks
subscribed because this man is the map for the future of economics. also.. patreon is tax deductible. 🙂
Great series rekindling foggy memory of university courses decades ago. How many lectures are planned?