Market Economies and Natural Laws

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C-René Dominique

By C-René Dominique, Laval University, Canada

Book Code: C7256

ISBN: 0-275-97256-9

ISBN-13: 978-0-275-97256-1

DOI:

136 pages, figures, appendices

Praeger Publishers

Publication: 6/30/2001

List Price: $99.95 (UK Sterling Price: £57.95)

Availability: Out of stock

Media Type: Hardcover

Trim Size: 6 1/8 x 9 1/4

Subjects:

Economics » Economic Theory
Economics » Macroeconomics

Description: The forefathers of neoclassical or conventional economics, beginning with Walras, wanted to build a psycho-mathematical science similar to celestial mechanics. However, during the first half of the last century, they succumbed to the charm of axiomatization: Hence, economics remains a stillborn science. Its theory is plagued with incongruities, generating misleading notions and policies that are detrimental to human welfare and environmental equilibrium. Its "truths" have significantly low half-lives, and its confused pronouncements have become an open ground in which "false consciousness" rumble unchallenged. This state of affairs calls for a fundamental revision. After reviewing the evolution of economics from Antiquity to the present and pointing to its inadequacies, Dominique proposes an alternative formulation which not only sheds light on the enduring features of market economics but also makes economics consistent with physics, the mother of all sciences. This is a challenging revision for scholars, students, and others involved with economic theory.

Table of Contents:

Preface
The Scientificity of Economics: A Stillborn Project
An Economy without a Rudder
On the Maturity of Scientific Theories
What Else Is Blocking Progress in Economics?
Persistent Growth and Fluctuations
An Alternative Sub-Theory of Human Choice
An Alternative Model of the Economy
Summary and Conclusions
Bibliography

LC Card Number: 00-069270

LCC Class: HB501

Dewey Class: 330


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