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
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
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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