Full Description
This book develops a general economic theory that integrates various economic theories and ideas and establishes important relationships between economic variables that are not formally recognized in the economic literature. The author demonstrates how the basic model is integrated with neoclassical growth theory, Walrasian general equilibrium theory, and Ricardian distribution theory, and how these theories can be incorporated through a single set of equations with a microeconomic basis.
The book offers new insights into income and wealth distribution between heterogeneous households, racial and national differences in growth and development, interdependence between different stock variables with portfolio choices among different markets. It will appeal to scholars of economists interested in an integrative theoretical approach to this discipline.
Contents
The Time for a Grand Economic Theory.- The Basic Model for the Integration.- An Integration of Walrasian General Ricardian Distribution, and Neoclassical Growth Theories.- Education, National Debts, and Development Traps.- Income and Wealth Inequalities with Racial Human Capital Externalities.- Growth with Public Knowledge and Human Capital.- Population Dynamics with Endogenous Birth and Mortality Rates.- Health, Environment, Resources, and Government.- Preference Change, Social Status, Habits, and Fashion.- Portfolio Choice in General Dynamic Equilibrium.- Money and Unstable Economic Changes.- Growth Theory Enriched by Monopoly, Monopsony, and Game Theories.- Growth and Economic Structure with Perfect and Monopolistic Competition.- Trade Pattern, Tourism, and Global Development.- Alonso's Urban and Solow's Growth Models Integrated.- Miscellaneous Issues and Conclusion.
