The meaning of gainful trade
Abstract'Gainful trade: a new economics' explains why and how economics may be rebuilt from scratch to allow the occurence of gainful trade. It uses a new concept of consistency of social choice and a new analytical tool called consistency analysis to build a unified model of economics. It answers all questions of macroeconomics from an extended micro model. The new paradigm makes macroeconomics obsolete. The key element is the treatment of money as a means of payment to allow indirect exchange.
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Bibliographic InfoPaper provided by EconWPA in its series International Trade with number 0405007.
Length: 16 pages
Date of creation: 26 May 2004
Date of revision:
Note: Type of Document - pdf; pages: 16. If trade is gainful, the Ricardo-Walras-Arrow-Debreu allocation tradition is mistaken. Economics must be rebuilt as science of exchange.
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Web page: http://220.127.116.11
Trade; gains; consistent choice; money as a means of payment; entrepreneurship; allocation;
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This paper has been announced in the following NEP Reports:
- NEP-ALL-2004-06-02 (All new papers)
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