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Real and Monetary Approach to the Handcraft Economy

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  • 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.

Suggested Citation

  • Fabrice Tricou, 2008. "Real and Monetary Approach to the Handcraft Economy," Lecturas de Economía, Universidad de Antioquia, Departamento de Economía, issue 68, pages 175-193, Enero-Jun.
  • Handle: RePEc:lde:journl:y:2008:i:68:p:175-193
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    References listed on IDEAS

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    More about this item

    Keywords

    prices; equilibrium; money; pricing; heterodoxy;

    JEL classification:

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

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