Shengzhi Wang 
Economics in Micro and Macro Consistency [EPUB ebook] 
Challenging Old Biases with New Insights

Ondersteuning

This is a book that is destined to be controversial and will be a book that stands up to criticism. The ideas of economics discussed in this book are almost completely different from what one usually sees in economics, with different starting points, different perspectives, different depths, and different conclusions. Yet the ideas here, after being discussed with such depth and clarity, are so obvious that one can hardly doubt their validity.

In this book, many new concepts have been introduced, and the book presents the following concepts:

  • The quantity supplied of goods depends on its profits and is not a function of its prices. On the contrary, price is a function of quantity supplied, with the price rising as the quantity supplied decreases and falling as the quantity supplied increases. This also explains the phenomenon of price counter cyclicality in the real economy, which turns out to be Marshall’s reversal of the independent and dependent variables.

  • The unmet need for commodities usually exists only among the larger, poorer classes, so the quantity demanded commodities in the market depends on prices. The market for goods expands immediately after the reduction in price, leading to a diminishing rate of profit, investment, and new employment. This also corrects Keynes’ major misunderstanding of the cause of diminishing marginal efficiency of capital.

  • The flow of money to the rich prevented the spread of the goods market to the poor, thus leading to the recession and depression. This new theory of volatility, which perfectly explains the nature of the economic crisis, for the first time, brings out the inequality between rich and poor as an obstacle to economic development, not only as a socio-political problem, and breaks the implicit premise on which Say’s law is based.

  • The monetary savings of society represents the inventory of enterprises in the society, and when they cannot be turned into investment or consumption, the inventory represented by the savings becomes a surplus backlog, which reveals the serious error of Hicks in the IS-LM model that makes S=I.

  • Skilled labor hardly increases, commodity prices hardly rise, wages cannot easily fall, and investment cannot easily stop. These sticky variables cannot easily change and are the stability factors that determine economic changes. Previously, similar explanations of the New Keynesian School were inadequate, and there was no solid support base.

  • The fundamental element that determines economic development is the quality of all workers in society. Low quality limits the improvement of economic efficiency in every part of society, and the improvement of these qualities involves the transformation of many concepts. The transformation needs to be driven by role models. However, economics has never been considered the most important factor of development.

  • The international monetary system is still lacking a ‘stability anchor’. If the world adopts the international monetary price measure (IMPM) proposed in this book, a unit of measurement ‘U’ can ensure the stability of the international foreign exchange market, but also make up for the deficiencies of Bancor Keynes suggested back then.

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    Betalingsmethoden

    Inhoudsopgave

    INTRODUCTION

    CHAPTER 1  The Pros and Cons of the Market

    1.1 The Great Benefits that Market and Technology Have Brought to Mankind

    1.2 Defects of the Market

    1.3 The Relationship between the Market and the Government

    CHAPTER 2  The Natural Development of the Economy

    2.1 The Operation of the Market

    2.2 The Evolution of Money

    CHAPTER 3  A Different Perspective of the Economy

    3.1 The Problem of Allocation is Important in Economics

    3.2 The Difference Between Consumption and Savings

    3.3 Stickiness in the Market Economy

    3.4 Supply, Demand and Price

    3.5 The Process of the Market Diffusion of Goods

    3.6 The Other Invisible Hand

    3.7 The Mixed Effect of Market Diffusion and the Concentration of Money

    3.8 The Life Cycle of a Product

    3.9 The Mutual Rising Economic Development and People’s Ideology

    3.10 International Monetary System

    CHAPTER 4  The Economy- Explained with Economics

    4.1 Shortcomings of Foreign Trade Theory

    4.2 Marshall’s Theory of Supply and Demand

    4.3 The Shortcomings of Keynesian Theory

    4.4 Schumpeter’s Business Cycle

    4.5 The Monetary School and Currency Flow

    4.6 Theory of Rational Expectations

    4.7 Problems of the Supply School

    CHAPTER 5  Reconceptualizing Economic Development

    5.1 Two Famous International Consensuses

    5.2 Foreign Trade, Domestic Trade, and Economic Development

    5.3 What Are China’s Advantages

    5.4 Small Steps and Fast Alternate Development

    5.5 Exploration of the Process of Development

    5.6 Improvement of National Competitiveness

    5.7 Scientific Development

    5.8 How China Develops Scientifically

    5.9 Limitations of Economic Development

    CHAPTER 6  Epilogue

    Over de auteur

    The author is now retired from the Beijing University of Posts and Telecommunications(BUPT). Before retiring, he served as the deputy director of the e-commerce research center in BUPT, during which, for more than ten years, he mainly engaged in economic management research and consulting for the telecom industry. Dozens of consulting clients include the headquarters of China’s three major telecom operators and their provincial and municipal companies, multinational corporations like Microsoft, Huawei, Lucent; consulting organizations like Deutsche Telekom Consulting, Nomura Research Institute, Chinese Academy of Engineering, and government departments like the Ministry of Industry and Information Technology, the State-owned Assets Supervision, and Administration Commission, Beijing Economic and Information Commission, and the likes. He had provided decision-making consultations for the relevant national ministries and commissions on top-level affairs in the telecom industry at that time, such as telecom operator reorganization, 3G and 4G license issuance, which were adopted with remarkable results.The author has done various jobs in farming, maintenance, assembly, manufacturing, engineering, research, development, teaching, training, leadership, management, marketing, and consulting. In his decades of various experiences, he has continued to conscientiously summarize and think about the various social, market, and academic phenomena, experiences, and the deep reasons behind them.

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    Taal Engels ● Formaat EPUB ● Pagina’s 212 ● ISBN 9781957144177 ● Bestandsgrootte 0.3 MB ● Uitgeverij Asian Culture Press ● Gepubliceerd 2022 ● Editie 1 ● Downloadbare 24 maanden ● Valuta EUR ● ID 8327579 ● Kopieerbeveiliging Adobe DRM
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