The End of Western Economics

Author: Zhang Jianping
Publisher:
Publish Date: 2005-01-01
Features: What makes this book extraordinary is that the author is completely free from the influence of existing economic concepts, independently proposing a brand-new set of economic theories in the midst of critique. This includes value and labor, exchange and price, utility, production, money, macroeconomics, and other aspects. Therefore, this book is not just an end but also a beginning. Through the high-level abstraction of economic phenomena, the author derives the 2+2 model, from which he takes the concept of "fairness" as the fundamental assumption and premise of economics. He then points out that the Western economic approach, which places the two parties of exchange in an unequal position, is wrong, and its self-proclaimed "fairness" is also hypocritical.
Based on psychological theories, the author simplifies demand into two levels: essential and non-essential needs. He then redefines "quantity demanded" and, through psychological theories, argues that the quantity of every demand is stable and unrelated to price. This breaks free from the flawed mindset of Western economics that "price and quantity demanded are related" and "price determines quantity demanded," completely negating the traditional approach to studying the relationship between price and quantity demanded.
Through a careful analysis of concepts such as value and labor, the author gives these classical concepts new content and interpretations, making them applicable to spiritual products. He systematically studies the rules and patterns of determining and changing exchange ratios, as well as their mathematical expressions. He points out that price is a "range form" jointly determined by both parties of exchange, explaining the expansion, contraction, and movement of price ranges, as well as their uncertainty. This provides a theoretical foundation for completely breaking free from the traditional concept of price and better understanding the mechanisms and dynamics of price determination.
The author also boldly analyzes the sensitive issue of monetary system crises from a theoretical perspective and explores the speculative nature of the bubble economy. Through the analysis of monetary balance in multiple sectors and the balance of output and revenue, he concludes that economic growth is impossible without an increase in the money supply. This conclusion may seem simple, but it accurately captures the speculative nature of the money economy.
The author argues that the essence of macroeconomics is politics. There is no economy without government intervention, and an economy without government intervention cannot exist stably. State intervention is an inevitable necessity for economic development. In an era where economic liberalism is in vogue, this undoubtedly douses the academic community with a cold reality check. The author's unique insights make this book entirely different from the superficial criticisms of Western economics that are currently popular. Upon finishing the book, readers will feel that the true end of Western economics has finally arrived.
"Shen Zhou Cie Bian Qian Fan Guo, Kui Mu Qian Tou Wan Shu Chun." May the next generation of people no longer follow Samuelson in learning economics, as the author states in the book.