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On the Reappraisal of Microeconomics: Economic Growth and Change in a Material World

By: R Ayres and K Martinas

Edward Elgar

Hardback | Dec 2005 | #164193 | ISBN: 1845422724
Availability: Usually dispatched within 5 days Details
NHBS Price: £72.00 $94/€82 approx

About this book

The conventional utility-based approach to microeconomics is now nearly a century old and although frequently criticised, it has yet to be replaced. On the Reappraisal of Microeconomics offers an alternative approach that overcomes most of the objections to orthodox theory, whilst offering some unique additional advantages.

'This is an excellent book. It will be a welcome addition to the growing body of work expanding the field of economic theory. The future of economics lies in work like this developing a kind of economics consistent with real human behaviour and biophysical reality.' - John M. Gowdy, Rensselaer Polytechnic Institute, US


Introduction 1. Models of Human Behavior 2. Micro-Foundations of Economics 3. Economic Agents, Actions and Wealth 4. The Z-Function 5. Decision-Making Strategies 6. Dynamics 7. From Agent to Aggregation 8. The Drivers of Long-Term Growth: Knowledge, Technological Change and Radical Innovation Appendix A: Money and Credit Appendix B: Balance Equations; Accounting Relationships Appendix C: Explicit Representations of Value and Wealth Functions and Supply - Demand Curves Appendix D: Properties of the Matrix References.

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