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Lecture 2 in “Becoming an Economist” at Kingston University

Summary:
Becom­ing an Econ­o­mist is the intro­duc­tory course on eco­nom­ics for under­grad­u­ates at Kingston Uni­ver­sity. This is the second of 11 lec­tures in the sub­ject; I’ll post the oth­ers as I write them over the next few months. This lec­ture dis­cusses why the Mainstream approach, starting from the fundamental question Walras posed "Can a system of free markets reach a set of prices that ensures that supply equals demand in all markets?" The answer was "No", but that didn't stop the "Equilibrium Fetish Jug­ger­naut” that Wal­ras unleashed. [embedded content] This is the Pow­er­point file for the lecture.

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Becom­ing an Econ­o­mist is the intro­duc­tory course on eco­nom­ics for under­grad­u­ates at Kingston Uni­ver­sity. This is the second of 11 lec­tures in the sub­ject; I’ll post the oth­ers as I write them over the next few months. This lec­ture dis­cusses why the Mainstream approach, starting from the fundamental question Walras posed "Can a system of free markets reach a set of prices that ensures that supply equals demand in all markets?"

The answer was "No", but that didn't stop the "Equilibrium Fetish Jug­ger­naut” that Wal­ras unleashed.

This is the Pow­er­point file for the lecture.

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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