Alternative Thoughts to Economic Theory
37 Pages Posted: 20 Jul 2005
Date Written: April 16, 2005
Abstract
Economic Theory constantly changes as societies change. If one does not believe that, then one needs to look at his or her credit cards and also how now banks offer mortgage payments with the buyer paying just interest. A demand curve for an individual is a point in time and not a schedule. The demand curve would be a collection of points for an individual over time, otherwise utility theory is violated. In macroeconomics profits need to be add to the equation Saving + Profits = Investments and the IS-LM curve needs to add budget constraints as an influencing factor of the economy.
Suggested Citation: Suggested Citation
Dellenbarger, Lynn E. and Zhu, Lihong and Chen, Zhimin and Sadlier, Pim, Alternative Thoughts to Economic Theory (April 16, 2005). Available at SSRN: https://ssrn.com/abstract=756850 or http://dx.doi.org/10.2139/ssrn.756850
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