Abstract
Neoclassical economics constructs a perfectly competitive market in the framework of general equilibrium and regards it as an ideal. Then what has been excluded from the model? It is money. In the general equilibrium model based on the “perfect competition,” the existence of money is eliminated from the market in advance, and a market economy is considered as if it were a barter economy. In other words, by forgetting the origin of the “money” that spins out the market economy, a pure theoretical model of the market is conceptualized, and all models of planned economies are derived from it.
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Nishibe, M. (2019). Money and the Autonomous Distributed Market. In: Whither Capitalism? . Springer, Singapore. https://doi.org/10.1007/978-981-13-0704-1_3
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DOI: https://doi.org/10.1007/978-981-13-0704-1_3
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Publisher Name: Springer, Singapore
Print ISBN: 978-981-13-0703-4
Online ISBN: 978-981-13-0704-1
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