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The meaning of gainful trade


  • Mohammad Gani


'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.

Suggested Citation

  • Mohammad Gani, 2004. "The meaning of gainful trade," International Trade 0405007, EconWPA.
  • Handle: RePEc:wpa:wuwpit:0405007
    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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    References listed on IDEAS

    1. Thomas M. Fullerton JR., 2001. "Specification of a Borderplex Econometric Forecasting Model," International Regional Science Review, , vol. 24(2), pages 245-260, April.
    2. Thomas M Fullerton Jr, 2004. "Currency Movements and International Border Crossings," Urban/Regional 0407008, EconWPA.
    3. Lucinda Vargas, 1999. "NAFTA's first five years (part 1)," Business Frontier, Federal Reserve Bank of Dallas.
    4. Tiao, George C & Tsay, Ruey S, 1983. "Multiple Time Series Modeling and Extended Sample Cross-Correlations," Journal of Business & Economic Statistics, American Statistical Association, vol. 1(1), pages 43-56, January.
    5. Thomas Fullerton & W. Sawyer & Richard Sprinkle, 1999. "Latin American trade elasticities," Journal of Economics and Finance, Springer;Academy of Economics and Finance, vol. 23(2), pages 143-156, June.
    6. Thomas M Fullerton Jr, 2004. "Cross Border Business Cycle (Impacts on Commercial Electricity Demand," Urban/Regional 0407010, EconWPA.
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    More about this item


    Trade; gains; consistent choice; money as a means of payment; entrepreneurship; allocation;

    JEL classification:

    • B22 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925 - - - Macroeconomics
    • B31 - Schools of Economic Thought and Methodology - - History of Economic Thought: Individuals - - - Individuals
    • C68 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Computable General Equilibrium Models
    • D46 - Microeconomics - - Market Structure, Pricing, and Design - - - Value Theory
    • D72 - Microeconomics - - Analysis of Collective Decision-Making - - - Political Processes: Rent-seeking, Lobbying, Elections, Legislatures, and Voting Behavior

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