Principles of Economics

This book is about forming effective critiques of neoclassical economics. Its focus is on constructive criticism of the foundations neoclassical theory, beginning with what Alfred Marshall called the `Principles of Economics'. It concludes that there is still much that can be done to make neoclassical economics more realistic. Hypothesis 2. Marshall's `Principles' and the `Element of Time' 3. Marshall's `Principle of Continuity' 4. Axiomatic Analysis of Equilibrium States 5. Axiomatic Analysis of Disequilibrium States Part II: Some Neglected Elements 6. Knowledge in Neoclassical Economic Theory 7. A Naive Theory of Technology and Change 8. Knowledge and Institutions in Economic Theory Part III: Some Missing Elements 9. The Foundations of Keynes' Methodolgy 10. Individualism without Psychology 11. Methodology and the Individual Decision-maker Part IV: Some Technical Question 12. Lexicographic Orderings 13. Revealed Preference vs Ordinal Demand 14. Giffen Goods vs Market Determined Prices Epilogue: Learning Economic Theory through Criticism