Supply and Demand Deconstructed
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Date
2020
Authors
Fix, Blair
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Abstract
Prices are caused by supply and demand, right? So say neoclassical economists. If you’ve bought their fairy tale, I recommend you watch the video below. In it, Jonathan Nitzan demolishes the neoclassical theory of prices. It’s a master lesson in how to deconstruct a theory.
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administered prices Cambridge Controversies inflation neoclassical economics rationality utility
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Citation
Supply and Demand Deconstructed.
Fix, Blair. (2020). Economics from the Top Down. 5 August. (Article - Magazine; English).