Real and Monetary Approach to the Handcraft Economy
AbstractThe handcraft market represents the social division of work because it is referred to the exchange between separated producers; unlike pure exchange and capitalist economies, the handcraft economy integrates production but gets rid off the technical division of work. This paper displays both real and monetary models of the handcraft market where each consumer-producer generalist, maximizes his utility function. In the first model a .general market economy. arises, which is related to relative equilibrium prices, whereas in the second one, the monetary model, a .particular market economy. arises, which is linked to absolute disequilibrium prices.
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Bibliographic InfoArticle provided by Universidad de Antioquia, Departamento de Economía in its journal LECTURAS DE ECONOMÍA.
Volume (Year): (2008)
Issue (Month): 68 (Enero-Junio)
Postal: Lecturas de Economía, Departamento de Economía, Calle 67, 53-108, Medellin 050010, Colombia.
Find related papers by JEL classification:
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- B50 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches - - - General
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- D50 - Microeconomics - - General Equilibrium and Disequilibrium - - - General
- E23 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Production
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