This paper unfolds and disproves the capital gain theory by Hall and Jorgenson (1967). It points out that investment valuation is a constant and cannot be differentiated, it also distinguishes the difference between valuation and residual value, and reveals the double counting mistake by Hall...

This paper shows that existing presentation of marginal measures is partial and thus incorrect, and proves that such measures can only be displayed in their original graph. This paper fends off any attempt to make marginal change as theory, like demand or supply

This paper disproves the optimal tariff theory. Any tariff or subsidy changes only the relative price, not the offer curve. Its tariff-affected terms-of-trade is actually an export-subsidy policy. This paper confirms that free trade is indeed universally beneficial

This paper disproves Hashimoto's labor theory. His topic is nothing but a bargaining problem. His setup is logically wrong. His solution contradicts his objective. When he abandons his solution to opt for other alternatives, he breaks up his own model. This paper also proves that Hashimoto's...

This paper proves that the model by Grossman and Helpman (1994) produces another singular indifference curve, which can never have any tangency with a standard budget line. Such indifference curve means that the person extremely loves money, and his utility function can be reduced to one...

Growth theory is a dynamic problem, and interest rate must play an important role. This paper proves that Ramsey's interest rate can be very erratic. It then applies Fisher's theory to correct Ramsey's error. Interest rate is an exogenous variable for most people, and it does not vary with their...

This paper uses profit consideration for people with commuting cost to explain both population and rent gradient functions. Although rent is lower as people move away from the CBD, their profit drops even faster. The difference between such profit and rent represents the intensity to bid a...

This paper proves that Clarke's mechanism to reveal consumer's demand is nothing but a tautology. He added up the parts to form the sum, and used the sum to find the parts. The so-called Clarke tax is nothing but smoke to distract our attention

Musgrave has tried to develop a system of demand curves to solve the equilibrium quantity of public good. This paper proves that his quantity appears both as exogenous and endogenous variables. The simultaneous solution for the quantity results in a demand curve underneath the horizontal axis....

This paper proves that paying incentive to bring a shirking worker back to work is a bad policy, for it only encourages more shirking. This paper suggests that Cheng was misled by his own mathematics complication