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:
Robert Vienneau writes Austrian Capital Theory And Triple-Switching In The Corn-Tractor Model
Mike Norman writes The Accursed Tariffs — NeilW
Mike Norman writes IRS has agreed to share migrants’ tax information with ICE
Mike Norman writes Trump’s “Liberation Day”: Another PR Gag, or Global Reorientation Turning Point? — Simplicius
| 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?