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Structural and behavioural asymmetries as the norm of market Economies
[Les asymétries structurelles et comportementales comme normes des économies de marché]

Author

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  • Albert Marouani

    (GREDEG - Groupe de Recherche en Droit, Economie et Gestion - UNS - Université Nice Sophia Antipolis (1965 - 2019) - CNRS - Centre National de la Recherche Scientifique - UniCA - Université Côte d'Azur, COMUE UCA - COMUE Université Côte d'Azur (2015-2019))

Abstract

Standard neo-classical economic theory is based on the idea of balance and symmetry between opposing forces (supply and demand). Most situations in the field of macroeconomics, in particular, are of a structurally asymmetrical nature. The same is true about the behavior of all agents because asymmetry of information is a characteristic of any contractual relationship in any market. Classical economists, as well as other heterodox economists, also consider that asymmetry, inequality and the conflicts of power and domination are at the very heart of market relations and explain the historical dynamics of the evolution of market economies. In these circumstances, it should be considered that the asymmetrical relationship must be regarded as the norm of the market economy.

Suggested Citation

  • Albert Marouani, 2018. "Structural and behavioural asymmetries as the norm of market Economies [Les asymétries structurelles et comportementales comme normes des économies de marché]," Post-Print halshs-01965258, HAL.
  • Handle: RePEc:hal:journl:halshs-01965258
    Note: View the original document on HAL open archive server: https://shs.hal.science/halshs-01965258
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    Keywords

    asymmetry; neoclassical economics; market; equilibrium; econometrics; macroeconomics; classical economics; evolutionary economics; structure;
    All these keywords.

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