On the mathematical foundations of political economy
AbstractPolitical economy views economic issues through the lens of political organisation. In today's world, it must focus on the roles of markets and of democracy, two concepts which are driving revolutionary changes in the political organisation of both Europe and Asia. There are two main paradigms for the analysis of markets and democracy, both of which have been mathematically advanced over a number of years: the general equilibrium theory of markets, and social choice theory, which examines practical aspects of democracy.' While it is true that political economy has made some limited use of the latter in order to examine political-economic issues of democracy, it has made little use of the former, the theory of market behaviour.
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Bibliographic InfoPaper provided by University Library of Munich, Germany in its series MPRA Paper with number 8123.
Date of creation: 1990
Date of revision:
general equilibrium; Welfare Theorems; welfare; political economy; mixed economies; political economy agenda; social choice theory; mathematical modelling;
Find related papers by JEL classification:
- F5 - International Economics - - International Relations, National Security, and International Political Economy
- D58 - Microeconomics - - General Equilibrium and Disequilibrium - - - Computable and Other Applied General Equilibrium Models
- D60 - Microeconomics - - Welfare Economics - - - General
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