Chapter 1. Introduction -- Chapter 2. Rediscovering Classical Economics in the Laboratory -- Chapter 3. Price Formation: Overview of the Theory -- Chapter 4. Price Formation: Partial Equilibrium -- Chapter 5. Price Formation: General Equilibrium -- Chapter 6. Financial Instability: Re-tradable...

G. Kennedy carefully examined the conflict that Smith covered in The Wealth of Nations brought about by Upper Income citizens that Smith classified as “Projectors, Imprudent risk takers, and Prodigals”. Their behavior led to very detrimental, negative outcomes in the macro economy as a...

Say's Law occupies a prominent, but equivocal, position in the history of economics, the object of repeated controversies about its meaning and significance since first propounded in the nineteenth century. This chapter proposes a unifying interpretation of Say's Law based on the idea that the...