Intro -- The Market equilibrium, stability, mythology -- Copyright -- Contents -- Foreword -- Preface -- Acknowledgements -- Part I The market phenomenon -- Part II Market equilibrium and stability -- 1 Introduction -- 2 Descriptive functions -- 3 Existence theorem -- 4 Stability theorem -- Appendices -- I Sperner's lemma -- II The KKM lemma -- III Distribution matrices -- Bibliography -- Part III The linear market model -- 1 Introduction -- 2 Existence question -- 3 Tâtonnement -- 4 The hyperbox: an illustration -- 5 Reducibility -- Appendix -- Distribution matrices, again -- Part IV Market & Myth -- Part V On trade, and self-sufficiency -- 1 An introduction to economics -- 2 The 'Optimism' of market doctrine -- 2.1 Choice and welfare -- 2.2 Free and yet a good slave - or Optimism -- 2.3 Pangloss -- 2.4 Historical -- 2.5 Another report, and Pessimism -- 2.6 Important nonsense -- 2.7 Welfare again -- 3 Keynes on "National self-sufficiency" -- 3.1 Free trade -- 3.2 External affairs -- 3.3 Proximities -- 3.4 Distances -- 3.5 High points -- 3.6 Interests -- 4 In Adelaide (or anywhere) -- Bibliography -- Part VI In the economic context: concerning 'efficiency' -- Notes -- Note 1 Aristotle's Value Problem and General Equilibrium -- Note 2 Theorems of the Market "The First and Second Theorems of Welfare Economics" -- Note 3 Hypothetical traders for the linear market -- Note 4 Historical note on "Data Envelope Analysis" frontier and stochastic-frontier production functions -- Index.

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.

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Electronic reproduction. Ann Arbor, Michigan : ProQuest Ebook Central, 2018. Available via World Wide Web. Access may be limited to ProQuest Ebook Central affiliated libraries.