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[The Appetiser suggests that the neoclassical economic model responds to a conjecture regarding the relationship between private and public interest rather than a question about the working of economic exchange. The Starter explains economic exchange. To explain economic exchange, it is first necessary to explain the process of ‘support-bargaining’ and the creation of money. With that, it is possible to explain how money is used in ‘money-bargaining’, the process of economic exchange. The Appetiser also identifies ‘communal interests’ as outcomes of support-bargaining. Money-bargaining accommodates communal interests as well as the individual interests that are the basic concern of neoclassical theory.]
Published: Dec 30, 2018
Keywords: Support-bargaining; Money creation; Money-bargaining; Neoclassical theory; Economic exchange; Communal interest
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