22 September 2022
My new paper The giant blunder at the heart of General Equilibrium Theory has been published in real-world economics review.
Abstract: Proofs of general equilibrium crucially hinge on establishing the existence of an equilibrium price vector that makes excess demand in all markets equal to zero. This paper shows that the so-called price vector does not meet the definition of vector, and that all proofs of general equilibrium are therefore invalid.
Category: Economics