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How Markets Work

Author

Listed:
  • Robert E. Prasch

Abstract

An accessible and enjoyable look at the way the market REALLY works! How Markets Work presents a new and refreshing introduction to elementary economics. The venerable theory of supply and demand is reconstituted upon plausible and defensible assumptions concerning human nature, the law, and the facts of everyday life – in short – the ‘Real World’. The message is that markets differ in ways that matter. Starting with a brief survey of property and contract law, the lectures develop several ‘ideal types’ of markets – such as credit, assets, and labor – while illuminating the similarities and differences among them. Care has been taken to ensure that the reformulations presented are accessible to students and compatible with a variety of non-mainstream traditions in economic thought.

Individual chapters are listed in the "Chapters" tab

Suggested Citation

  • Robert E. Prasch, 2008. "How Markets Work," Books, Edward Elgar Publishing, number 12941.
    • Handle: RePEc:elg:eebook:12941
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    File URL: https://www.elgaronline.com/view/9781847206138.xml
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    Citations

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    Cited by:

    1. Jackson, William A., 2015. "Markets and the Meaning of Flexibility," EconStor Open Access Articles and Book Chapters, ZBW - Leibniz Information Centre for Economics, vol. 20(2), pages 45-65.
    2. Robert E. Prasch, 2010. "Bankers Gone Wild: The Crash of 2008," Chapters, in: Steven Kates (ed.), Macroeconomic Theory and its Failings, chapter 11, Edward Elgar Publishing.
    3. Anne Mayhew, 2018. "An Introduction to Institutional Economics: Tools for Understanding Evolving Economies," The American Economist, Sage Publications, vol. 63(1), pages 3-17, March.

    More about this item

    Keywords

    Economics and Finance;

    JEL classification:

    • D7 - Microeconomics - - Analysis of Collective Decision-Making

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