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Author Vickers, Douglas, 1924-

Title The tyranny of the market : a critique of theoretical foundations / Douglas Vickers
Published Ann Arbor, Mich. : University of Michigan Press, [1995]


Location Call no. Vol. Availability
 W'PONDS  330.12209 Vic/Tot  AVAILABLE
Description vii, 261 pages ; 24 cm
Contents Ch. 1. Perspectives and Critique -- Ch. 2. Market Functions and Market Theory -- Ch. 3. Markets and Money -- Ch. 4. Marx, Ricardo, and Modern Themes -- Ch. 5. Market Stasis and Process -- Ch. 6. Marginal Optimization: Utility and the Demand Side -- Ch. 7. Marginal Optimization: Productivity and the Supply Side -- Ch. 8. The Market for Money -- Ch. 9. Macromarket Failure -- Ch. 10. Time, Uncertainty, Epistemics, and Market Behavior
Summary This book critically reviews and evaluates a number of central theoretical concepts that have shaped economists' analysis of markets. In a rigorous discussion of the demand and supply sides of the market, Douglas Vickers questions the cogency of many of the established ideas and tools of economic analysis. The critique relies considerably on the significance of real historical time and the epistemic uniqueness of individuals in decision making. The author identifies deficiencies in the concepts of utility and its cognate - preference orderings on the demand side of the market and in marginal productivity and the related theory of income distribution on the supply side. Setting the critique of received traditions in historical perspective, The Tyranny of the Market reviews the bequests to contemporary theory of classical and neoclassical economics
Bibliography Includes bibliographical references (pages 239-252) and index
Subject Capitalism -- History.
Capitalism -- Histovy
Money -- History.
Supply and demand -- History.
LC no. 95011181
ISBN 047210618X (alk. paper)