economics

Get Full Text in PDF A Commentary* The world is at an inflection point. A convergence of themes – seemingly disconnected – is integral and urgent to our very survival. Our world is headed into a Perfect Storm of an interconnected financial, ecological and social crisis. Almost all forward-looking assessments demonstrate that business as usual and incremental improvements will not be sufficient to take us to a future world blessed by equitable prosperity, safety, security and contentment. And...

Get Full Text in PDF 1. Neoclassical Economics & the “General Equilibrium” System 1.1 Supply and Demand in a Static “Perfect” Equilibrium The act of selling or buying goods always takes place at a given moment or instant in time, at which a price is agreed and paid. The general economic system is considered by standard economics to be based on a “General Equilibrium” which represents the various transactions taking place in the overall economic system. Prices agreed for transactions...