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Books > Business & Economics > Economics > Economic theory & philosophy
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A Critique of Orthodox Economics - An Alternative Model (Hardcover)
Loot Price: R2,918
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A Critique of Orthodox Economics - An Alternative Model (Hardcover)
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Modern neoclassical economics is a theory of general equilibrium.
It is based on highly unrealistic assumptions and yields a number
of false predictions. The alternative model, presented in this
book, uses a wider definition of technology, and emphasises the
role of the entrepreneur as the primary agent of change. Because it
takes time for firms to improve their technology, and to acquire
the necessary finance for expansion, there are wide differences in
firm sizes, and in their profitability. The competitive struggle to
develop better technology raises the level of productivity of the
whole economy, and leads to higher real incomes.
General
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