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Disequilibrium trade as a metaphor for social disorder in the work of Jean-Baptiste Say
- Source :
- History of Political Economy. Annual, 1994, Vol. 26 Issue SUPP, p135, 14 p.
- Publication Year :
- 1994
-
Abstract
- Jean-Baptiste Say's analysis of markets indicates a rejection of higgling as a useful concept for modern economics. Higgling originated as the process of bargaining in a marketplace, and some economists have expanded it to cover modern institutional systems. However, Say found that markets clear under perfect freedom, due to competition of supply and demand. Higgling would be an indication of disequilibrium or social disorder.
- Subjects :
- Economics -- History
Markets (Economics) -- Analysis
Economics
History
Subjects
Details
- ISSN :
- 00182702
- Volume :
- 26
- Issue :
- SUPP
- Database :
- Gale General OneFile
- Journal :
- History of Political Economy
- Publication Type :
- Academic Journal
- Accession number :
- edsgcl.16606601