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The Market

Equilibrium, Stability, Mythology

By Sydney N. Afriat

Routledge – 2002 – 144 pages

Series: Routledge Frontiers of Political Economy

Purchasing Options:

  • Pre-Order NowPaperback: $48.95
    978-0-415-85986-8
    February 8th 2015
    Available for pre-order
  • Add to CartHardback: $180.00
    978-0-415-30048-3
    September 19th 2002
    Currently out of stock

Description

This punchy book unites mainline mathematical economics and sometimes idiosyncratic political economy. Freshness is brought to the market concept giving general equilibrium theory a new lease of life, and an opening of thought on such matters as free trade, globalization and the environment.

Where most theories of general equilibrium have been based on utility maximizing traders, Afriat here maintains the view that the topic essentially is concerned with aggregates and that anything to do with utility is at best secondary if not spurious. The book goes on to discuss political economy, in particular the idea of 'optimum', and its abuses, especially in doctrine related to the market.

This novel book will be of equal appeal to mathematical thinkers, those interested in the theory of market and political economists.

Reviews

'This is an unusually elegant and imaginative book, written with verve and flair by a supremely well-informed theorist with an open mind and a critical eye.' - K. Vela Velupillai

Author Bio

S. N. Afriat, currently associated with the University of Siena, Italy, has a long and distinguished rocord of publishing at the interface of mathematics and economics.

Name: The Market: Equilibrium, Stability, Mythology (Hardback)Routledge 
Description: By Sydney N. Afriat. This punchy book unites mainline mathematical economics and sometimes idiosyncratic political economy. Freshness is brought to the market concept giving general equilibrium theory a new lease of life, and an opening of thought on such matters as free...
Categories: Economic Theory & Philosophy, Political Economy, History of Economic Thought