Debunking Economics: the naked emperor of the social sciences by Steve Keen

Debunking Economics: the naked emperor of the social sciences by Steve Keen

Author:Steve Keen [Keen, Steve]
Language: eng
Format: epub
Tags: economics
ISBN: 9780646506395
Publisher: Steve Keen
Published: 2011-02-10T13:19:11.541000+00:00


These theorems[65] are too complex to be conveyed accurately by either words or figures, but in keeping with the objectives of this book, I’ll attempt an explanation. If you don’t want to twist your mind around the mathematical concepts involved, then please skip to the following heading (‘A transitional methodology?’).

The ‘general equilibrium problem’ is to find a set of prices which result in the amount consumers demand of each and every product equalling the amount supplied. Prices obviously have to be positive, as do the quantities demanded and the quantities produced.[66]



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