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The meaning of gainful trade

Author

Listed:
  • Mohammad Gani

Abstract

'Gainful trade: a new economics' explains why and how economics may be rebuilt from scratch to allow the occurence of gainful trade. It uses a new concept of consistency of social choice and a new analytical tool called consistency analysis to build a unified model of economics. It answers all questions of macroeconomics from an extended micro model. The new paradigm makes macroeconomics obsolete. The key element is the treatment of money as a means of payment to allow indirect exchange.

Suggested Citation

  • Mohammad Gani, 2004. "The meaning of gainful trade," International Trade 0405007, University Library of Munich, Germany.
    • Handle: RePEc:wpa:wuwpit:0405007
    Note: Type of Document - pdf; pages: 16. If trade is gainful, the Ricardo-Walras-Arrow-Debreu allocation tradition is mistaken. Economics must be rebuilt as science of exchange.
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    File URL: https://econwpa.ub.uni-muenchen.de/econ-wp/it/papers/0405/0405007.pdf
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    More about this item

    Keywords

    Trade; gains; consistent choice; money as a means of payment; entrepreneurship; allocation;
    All these keywords.

    JEL classification:

    • B22 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925 - - - Macroeconomics
    • B31 - Schools of Economic Thought and Methodology - - History of Economic Thought: Individuals - - - Individuals
    • C68 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Computable General Equilibrium Models
    • D46 - Microeconomics - - Market Structure, Pricing, and Design - - - Value Theory
    • D72 - Microeconomics - - Analysis of Collective Decision-Making - - - Political Processes: Rent-seeking, Lobbying, Elections, Legislatures, and Voting Behavior

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