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The Economics Book
book

The Economics Book

by DK
December 2014
Beginner
352 pages
14h 24m
English
DK Publishing
Content preview from The Economics Book
RG

IN CONTEXT

FOCUS

Welfare economics

KEY THINKER

Gérard Debreu (1921–2004)

BEFORE

1874 French economist Léon Walras shows that a competitive, decentralized economy can achieve a stable equilibrium.

1942 Polish economist Oscar Lange provides an early proof of the efficiency of markets.

AFTER

1967 US economist Herbert Scarf demonstrates a method for applying real-world economic data to general equilibrium models.

1990s New models of the macroeconomy integrate general equilibrium analysis with real-world economic data over time.

By the 1860s and 70s mainstream economics had developed a distinctive set of claims about the world, offering mathematical models that ...

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Publisher Resources

ISBN: 9781465438409