TEXTBOOK

 

All economists know virtually all of economics is based on unrealistic and knowingly false assumptions. And all economists have implicitly (or explicitly) agreed it is good to use models and theories based on unrealistic and knowingly false assumptions until something better comes along. Because, they say, until then, it is the best we have. 

ECONOMICS WITHOUT MARKETS is the something better. 

It says we can accept all existing economic ideas, models, and theories as special cases described by their assumptions, and that all those economic ideas, models, and theories might offer really good explanations and predictions whenever their assumptions hold. In other words, whenever the knowingly false assumptions are real, economists have it nailed.

But because that can never happen, ECONOMICS WITHOUT MARKETS offers explanations and predictions based on what we know is true in the world. 

It answers the question: If we set aside everything based on unrealistic and knowingly false assumptions as special cases or historical curiosities, what do we do next?

Contents

      1    An Economic Fly
      2    Markets Do Not Exist
      3    The Price Guesser Monopoly
      4    Explaining and Predicting
      5    Paper Assets
      6    Physical Commodities
      7    Change in Demand
      8    Change in Costs
      9    Corporate Income Tax
    10    Sales Tax
    11    Perishable Products
    12    X and Y
    13    Price Floor
    14    Price Ceiling
    15    Common Goods
    16    Negative Externalities
    17    Positive Externalities
    18    Common Property Resources
    19    A Common Macro Model
    20    Change in Government Spending

    21    Rethinking Spending
    22    FDA Regulations
    23    Regulating Financial Firms
    24    Deregulating Financial Firms
    25    Negative Externalities and GDP
    26    Climate Change
    27    Gross Domestic Product
    28    “Free Trade”
    29    Economic Growth
    30    Economics Without Markets

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