Foundations of Economic Science

Gani, Mohammad Osman (2003): Foundations of Economic Science. Published in: (19 August 2003): pp. 1-272.

Abstract

The book presents a new paradigm of economic science as a science of exchange. It introduces a new analytical tool called consistency analysis to unify the entire body of economic theory, covering micro, macro, trade, money, development and demography. It uses a new wider and deeper concept of consistent choice to overcome the limits of rational choice. It incorporates entrepreneurship and transaction costs in a theory of intermediation, and stands on institutional rules to provide predictable regularity of social action of exchange. It shows transfer of value as the necessary function of money under indirect trade, and explains the equilibrium relation between output and money.

• Item Type: MPRA Paper
• Language: English
• Keywords: consistent choice, transfer of value, unified economics, payment, intermediation, entrepreneurship
• Subjects: A - General Economics and Teaching > A1 - General Economics; A - General Economics and Teaching > A1 - General Economics > A10 - General; A - General Economics and Teaching > A1 - General Economics > A19 - Other; A - General Economics and Teaching > A2 - Economic Education and Teaching of Economics > A20 - General; B - History of Economic Thought, Methodology, and Heterodox Approaches > B4 - Economic Methodology; B - History of Economic Thought, Methodology, and Heterodox Approaches > B4 - Economic Methodology > B41 - Economic Methodology; D - Microeconomics > D6 - Welfare Economics > D60 - General; D - Microeconomics > D7 - Analysis of Collective Decision-Making > D71 - Social Choice ; Clubs ; Committees ; Associations; E - Macroeconomics and Monetary Economics > E6 - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook > E60 - General; K - Law and Economics > K0 - General; Z - Other Special Topics > Z1 - Cultural Economics ; Economic Sociology ; Economic Anthropology

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