The meaning of gainful trade
'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.
|Date of creation:||26 May 2004|
|Date of revision:|
|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.|
|Contact details of provider:|| Web page: http://econwpa.repec.org|
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