A Critique of Orthodox Economics: An Alternative Model by Harold Lydall
English | Mar. 1998 | ISBN: 0312211430 | 195 Pages | PDF | 9 MB
Modern neoclassical economics is a theory of general equilibrium, based on assumptions of perfect competition, perfect knowledge of existing technology, and timeless - staticadjustment. Although useful for some purposes, this theory suffers from serious defects, both in its assumptions and in its predictions. Its fundamental weakness is that it eliminates any role for the entrepreneur.