Order of Economic Choices: A Theoretical Framework of Transaction Economics

Author: Liu Feng
Publisher:
Publish Date: 2006-06-01
Features: This book roughly analyzes and discusses the theoretical achievements and shortcomings of past economic theories, explores and elaborates on the similarities and differences in methodologies between neoclassical economics and Coasean economics, and proposes a new theoretical framework—Transaction Economics Theory Framework—based on the principles of Coasean economic methodology. The content includes: the structure of demand, consumer behavior and value theory, labor supply determined by labor choice, organizations and their constituent elements, etc. The basic framework of this book remains the framework of neoclassical economic theory, which is to understand and interpret various economic categories from the perspective of the interaction between transactional parties. However, it takes the reality of human economic activities (transactions) as the core, understanding human economic life from the historical development of human survival, thereby specifically demonstrating the author's understanding of Coasean thought methodology. Personal Opinion: This will be closer to the kind of "economics that should be" as Coase called it, compared to the current "micro + macro + institutions" three-layered theoretical structure that is disjointed and mutually unconnected.