The Flawed Foundations of General Equilibrium

This book, as the title suggests, explains how General Equilibrium, the dominant conceptual framework in mainstream economics, describes a perfectly impossible world. Even with its counterfactual assumptions taken for granted, it fails on many levels. Under the impressive editorship of Ackerman and Nadal, this book will appeal to students and researchers in economics and related social science disciplines.

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Table of contents : Ackerman and Nedal. Introduction: Underneath the Flawed Foundations
1. Ackerman. Still Dead After All these Years (Journal of Economic Methodology)
2. Nadal. Behind the Building Blocks: Commodities and Agents
3. Benetti. Money and Prices: Commodities and Agents
4. Benetti, Nadal, Salas, The Law of Supply and Demand in the Proof of Existence of General Competitive Equilibrium
5. Ackerman, Consumed in Theory (Journal of Economic Issues 1997)
6. Nadal, Choice of Technique Revisited (World Development 1990)
7. Ackerman, Existence Values and Priceless Externalities
8. Nadal, Contradictions of the Open Economy Model
9. Ackerman. An Offer You Can't Refuse
10. Ackerman, Gallagher. Computable Abstraction
11. Nadal. Freedom and Submission: Individuals and the Invisible Hand (early version in Analisis Economico, Mexico City, 1998)