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Real and Monetary Approach to the Handcraft Economy

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Author Info
Fabrice Tricou () (Universidad Paris 10 Nanterre, France)
Abstract

The 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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Publisher Info
Article provided by Universidad de Antioquia, Departamento de Economía in its journal LECTURAS DE ECONOMÍA.

Volume (Year): (2008)
Issue (Month): 68 (Enero-Junio)
Pages: 175-193
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Handle: RePEc:lde:journl:y:2008:i:68:p:175-193

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Related research
Keywords: prices; equilibrium; money; pricing; heterodoxy;

Find related papers by JEL classification:
B30 - Schools of Economic Thought and Methodology - - History of Thought: Individuals - - - General
B50 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches - - - General
D46 - Microeconomics - - Market Structure and Pricing - - - Value Theory
D50 - Microeconomics - - General Equilibrium and Disequilibrium - - - General
E23 - Macroeconomics and Monetary Economics - - Macroeconomics: Consumption, Saving, Production, Employment, and Investment - - - Production

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This page was last updated on 2009-11-29.

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