Description
Book SynopsisThis book transports the reader from the world of mainstream economics, in which the object of observation is The Market (exchange), to a world in which the object of observation is the economic process. Both producer and consumer must, respectively, be legitimate owners of real wealth and monetary wealth.
Trade ReviewYou are certainly striking out boldly in new directions... -- William J. Baumol, professor emeritus of economics, NYU and Princeton
Describes the economic process, restructures contemporary economic theory using the tools of logic, and presents a new structure called Concordian economics. * Journal of Economic Literature *
Dr. Gorga's…. might be called an Austrian theory of inflation…. emphasize(s) distortion of the structure of production…. inflationary effects on accumulation of the various stocks (hoarded goods, production goods, consumer goods). -- M.L. Burstein, (late) professor of economics, York University
…has the answers to universal poverty and the anxieties of the affluent. -- Vincent Ferrini, former Gloucester poet laureate
This book will be extremely difficult to follow for a 'modern' mainstream economist…. [With] writing style similar to…. Veblen, Schumpeter, Keynes, and von Hayek…. the reader [has] to think carefully about the fundamental nature of capitalism as a complex system…. Gorga's (G) concern is to identify…. the major problem that has impacted all types of economies over the last 4,000 years…. it is impossible to eliminate all uncertainty which means that hoarding will be a problem. However, once identified, its negative impact can be reduced to a minimum. Keynes states this…. but does not emphasize it…. Gorga's reinterpretation of the Y model allows him to reach Keynes's conclusion… [and to]integrat[e] it into a complex systems analysis… -- Michael E. Brady, Ph.D., lecturer at California State University, Dominguez Hills
I must apologize for my original skepticism regarding your claims. You have indeed written a major treatise — an important work of original scholarship, prepared with great care and presented with eloquence and wit. -- Alan Reynolds, senior fellow, Cato Institute
Table of ContentsChapter 1 List of Illustrations Chapter 2 A Synopsis Chapter 3 Acknowledgments Chapter 4 Preface to Expanded Edition Chapter 5 Preface Part 6 Prolegomena (Preliminaries) Chapter 7 The Need to Transform Economic Theory Chapter 8 ...Into "Simple" and "Obvious" Economics Part 9 Part I: Overall Analysis of the Keynes' Model Chapter 10 I. Keynes' Thought as the Apex of Classical Economics Chapter 11 II. Toward Concordian Economics Chapter 12 III. Lack of Homogeneity in Keynes' Model Chapter 13 IV. Simplicism - and Forced Doublespeak - of Keynes' Model Chapter 14 V. Lack of True Equivalence in Keynes' Model Chapter 15 VI. Neither Classical nor Mainstream, but Rational Economics Part 16 Part II: Analysis of the Component Elements of Keynes' Model Chapter 17 VII. The Dissection of Keynes' Model and the Dissection of th S-I Nexus Chapter 18 VIII. The History of the Word "Saving" Chapter 19 IX. Beyond Adam Smith's Conception of Saving Chapter 20 X. Beyond Keynes' "Definition" of Investment Chapter 21 XI. The Definition of Saving, Hoarding, and Investment Chapter 22 XII. The Real Saving-Investment System Chapter 23 XIII. A Sartorial Movement: Turning Keynes' Model Inside Out or Turning Mainstream Economics into Concordian Economics Chapter 24 XIV: The Concept of Consumption Chapter 25 XV. The Concept of Income and the Flows Model as a Whole Part 26 Part III: Analysis of the Economic Process Chapter 27 XVI. The Economic Process as a Whole Chapter 28 XVII. Simplistic Descriptions of the Economic Process Chapter 29 XVIII. The Production Process Chapter 30 XIX. The Consumption Process Chapter 31 XX. The Distribution Process Chapter 32 XXI. Economic Growth: The Normal Outcome of the Unfolding of the Economic Process Chapter 33 XXII. Inflation: The Outcome of the Economic Process Gone Awry Part 34 Part IV: Foundations of Economics Chapter 35 XXIII. Toward Econometrics: Closing the Gap Between Micro and Macro Economics Part 36 Part V: Consciousness and Conscience of Economics Chapter 37 XXIV. Poverty and the Economic Process Chapter 38 XXV. The Elimination of Absolute Poverty Through the Right to Create All the Wealth One Needs Chapter 39 Epilogue: Come To Concord Chapter 40 Appendix 1 - Symbols, Meanings, and Definitions Chapter 41 Appendix 2 - Concordian Economics: Tools to Return Relevance to Economics Chapter 42 Appendix 3 - Economics for Physicists and Ecologists Chapter 43 Endnotes Chapter 44 Index
