Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/79484
Authors: 
Kregel, Jan
Year of Publication: 
2012
Series/Report no.: 
Working Paper, Levy Economics Institute 730
Abstract: 
Market economies and command economies have long been differentiated by the presence of alternative choice in the form of diversity. Yet most mainstream economic theory is premised on the existence of uniformity. This paper develops the implications of this contradiction for the theory of prices, income creation, and the analysis of the recent financial crisis, and provides a critique of traditional theory from an institutionalist perspective developed by J. Fagg Foster.
Subjects: 
Financial Crisis
W. Petty
Markets
Equilibrium Prices
Financial Crisis
JEL: 
B0
D01
D41
E01
E31
P00
Document Type: 
Working Paper

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