Price Theory and Money Coupled: some Remarks on the Ayres-Martin�s Theory

Autor:	Zsolt Gilányi
Rok vydání:	2013
Předmět:	Inflation Endogenous money Economic science Public economics media_common.quotation_subject Economics TheoryofComputation_GENERAL Mainstream Neoclassical economics media_common
Zdroj:	Interdisciplinary Description of Complex Systems. 11:29-36
ISSN:	1334-4676 1334-4684
DOI:	10.7906/indecs.11.1.3
Popis:	The main concern of economic science is to explain the Wealth of Nations. This tradition implies on the one hand, that wealth must be evaluated i.e.: economic science must elaborate a price theory; on the other hand, money should be integrated in economic theories because prices are expressed in monetary terms. Mainstream economic theory succeeds in price determination (with some limits) but fails on money integration, while non-mainstream monetary models succeed on money integration but fail on price determination. In this paper I argue that the Ayres-Martinas theoretical framework is a promising tentative to cope with this challenge of economic science.
Databáze:	OpenAIRE
Externí odkaz:	https://explore.openaire.eu/search/publication?articleId=doi_________::d44d16282d2e258af27dbdc017015959 https://doi.org/10.7906/indecs.11.1.3 Zobrazit plný text záznamu Plný text ve formátu PDF