Debunking Economics: The Naked Emperor of the Social Sciences by Steve Keen

Author:Steve Keen
Language: eng
Format: mobi, epub, pdf
Tags: economics
ISBN: 9781856499927
Publisher: Zed Books
Published: 2002-03-15T00:00:00+00:00

These theorems[65] are too complex to be conveyed accurately by either words or figures, but in keeping with the objectives of this book, I’ll attempt an explanation. If you don’t want to twist your mind around the mathematical concepts involved, then please skip to the following heading (‘A transitional methodology?’).

The ‘general equilibrium problem’ is to find a set of prices which result in the amount consumers demand of each and every product equalling the amount supplied. Prices obviously have to be positive, as do the quantities demanded and the quantities produced.[66]

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