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A Critique of Pure Economics

  • John Komlos

The title of this piece tells it all. It is not that our author does not believe in markets but that he thinks they have many natural limitations. He welcomes them when empirical evidence suggests that they work. But in this fine and necessary criticism of conventional "rational-person" economics, he finds fifteen cursesyes, he calls them cursesthat markets must deal with to work as the textbooks say they do.

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Article provided by M.E. Sharpe, Inc. in its journal Challenge.

Volume (Year): 55 (2012)
Issue (Month): 2 (March)
Pages: 21-57

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Handle: RePEc:mes:challe:v:55:y:2012:i:2:p:21-57
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