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La teoria economica dell'equilibrio
[Equilibrium Economic Theory]

Listed author(s):
  • Muoio, Paola

The real economy is predominated by the non neutrality of monetary variables in the economic system and by the existence of underemployment equilibria and growing forms of environmental damage. The theory of general economic equilibrium revisited by monetarists conduced to the full employment equilibrium that must produce a natural unemployment rate,not dipending from the money supply existing in the system, not realizing that the equilibrium of the economic system is a mere illusion. In fact there can be multiple equilibria and ecomic cycles due to instables models who consider the caos theory in economics. The neoclassical paradigm however regenerate itself studying the environmetal economics as mere analisys of negative externalities and pervese effects into the environment, with the aim to reintroduce the environment variable into a scheme of general economic equilibrium. The orthodox economist see the world as a machine, while the environment is a leaving organism and the analitical approach must be decidedly non linear. The behaviour of the system can be absolutely different fron which could be forecasting by extrapolation of an individualistic behaviour model. It is too complex to be explaned trough a mechanic approach. In conclusion, the equilibrium approach is fallacious and the classic economic policies haven't efficacy, due tho the imprevedibility of the economic system on the long period. Thus, the orthodox environmental ecomomics proposing taxes and subsidies to compensate negative externalities is limited by the insufficience of its theoretical basis.

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Paper provided by University Library of Munich, Germany in its series MPRA Paper with number 42661.

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Date of creation: 15 Apr 2009
Handle: RePEc:pra:mprapa:42661
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