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Within socialist economics, a sustained critique of general equilibrium theory (and neoclassical economics generally) is given in Anti-Equilibrium, [28] based on the experiences of János Kornai with the failures of Communist central planning, although Michael Albert and Robin Hahnel later based their Parecon model on the same theory. [29]
Chapter 25, "A Note on Books", recommends several books for those interested in further reading on economics. He suggests some intermediate-length works, such as Frederic Benham's "Economics" and Raymond T. Bye's "Principles of Economics," as well as older books like Edwin Canaan's "Wealth" and John Bates Clark's "Essentials of Economic Theory."
Those who wish to adopt the textbooks are required to send a request to NCERT, upon which soft copies of the books are received. The material is press-ready and may be printed by paying a 5% royalty, and by acknowledging NCERT. [11] The textbooks are in color-print and are among the least expensive books in Indian book stores. [11]
A local chapter will be under one faculty member of the college as one Single Point of Contact (SPOC). Further under the SWAYAM-NPTEL webpage, two more departments are operated, i.e., timeline, list of active local chapters, local chapter ratings, etc. Other departments show news from local chapters, i.e., local chapter colleges/universities.
In economics, economic equilibrium is a situation in which the economic forces of supply and demand are balanced, meaning that economic variables will no longer change. [ 1 ] Market equilibrium in this case is a condition where a market price is established through competition such that the amount of goods or services sought by buyers is equal ...
Mankiw, N. Gregory (2001), Principles of Economics (second ed.), Fort Worth: Harcourt College Publishers, p. 216, ISBN 978-0-03-025951-7. Pigou, A.C. II, Chapter IX: Divergences Between Marginal Social Net Product and Marginal Private Net Product in The Economics of Welfare (1932)
The coincidence of wants (often known as double coincidence of wants) [1] [2] [verification needed] is an economic phenomenon where two parties each hold an item that the other wants, so they exchange these items directly. Within economics, this has often been presented as the foundation of a bartering economy. [3]
Transformation problem: The transformation problem is the problem specific to Marxist economics, and not to economics in general, of finding a general rule by which to transform the values of commodities based on socially necessary labour time into the competitive prices of the marketplace. The essential difficulty is how to reconcile profit in ...