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A Critique of Pure Economics

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  • John Komlos

Abstract

The title of this piece tells it all. It is not that our author does not believe in markets but that he thinks they have many natural limitations. He welcomes them when empirical evidence suggests that they work. But in this fine and necessary criticism of conventional "rational-person" economics, he finds fifteen curses—yes, he calls them curses—that markets must deal with to work as the textbooks say they do.

Suggested Citation

  • John Komlos, 2012. "A Critique of Pure Economics," Challenge, Taylor & Francis Journals, vol. 55(2), pages 21-57.
    • Handle: RePEc:mes:challe:v:55:y:2012:i:2:p:21-57
    DOI: 10.2753/0577-5132550202
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