📢#OutNow in #OA: 'Models in #Microeconomic Theory: Expanded Second Edition (She & He)' by Martin J. Osborne & Ariel Rubinstein.

Part I presents models of an #economic agent, discussing abstract models of preferences, choice, and decision-making under uncertainty, before turning to models of the #consumer, the #producer, and #monopoly. Part II introduces the concept of #equilibrium, beginning, unconventionally, with the models of the jungle and an #economy with indivisible goods, and continuing with models of an exchange economy, equilibrium with rational expectations, and an #economy with asymmetric information. Part III provides an introduction to #gametheory, covering #strategic and extensive #games and the concepts of #Nash #equilibrium and #subgame perfect equilibrium. Part IV gives a taste of the topics of #mechanismdesign, #matching, the #axiomatic analysis of #economic systems, and #socialchoice.

https://doi.org/10.11647/OBP.0361
https://doi.org/10.11647/OBP.0362

@LeftistLawyer

“It’s #axiomatic that any system preying upon the #vulnerabilities of the many, to profit the few, is both a #moral and #ethical #atrocity #Capitalism embodies such a #system.”

Indeed but then so are nation states, they are designed to uphold segregation, inequality and apartheid.

The entire way we design our economic, political and social systems is exploitative.

Everything we do is wrong (the definition of "wrong" being that the end result of this "stupidity" will inevitable lead to the foreseeable collapse of civilisation) What we do is to benefit the needs of the few, which is most of us on here. We drive a truck across town t get a different sort of burger while we allow children to die. We'll build monstrous buildings to house our excess crap and choose to allow people to be homeless.

but here is where I deviate with the anti capitalism mantra (I completely agree its repugnant). It cant be fixed; climate change, pollution, exploitation, segregation, inequality, resource over use, capitalism, war and on and on are inevitable output of the human system.

5000 years ago Egypt was using slaves to build pyramids for "kings", similarly the Khmer Empire some 800 years ago, the Roman Empire, the British Empire. As recently as WW2, millions of Indians were starved to death by the revered human Churchill, the same guy that said Australian Aborigines deserved to be killed . The current American Empire is built on the lash applied to black skin.

When other systems are identified that are sustainable, fair, equitable etc they are inevitably shunned. Tell the average American they need to live like the average Cuban to live a sustainable life (a rough guide as to where we all need to be) .. and ... ?

What we have is what we'd get if we tried again. It's the human condition. We're really successful apes, with a chromosome or 10 that are awry.

A subtlety people sometimes forget about #Gödel's Incompleteness #Theorem: It not only says any sufficiently interesting #axiomatic theory has statements it can't prove (boring) -- it says that there are statements that are TRUE according to its own axioms, yet it cannot prove (WTF)

A subtlety people sometimes forget about #Gödel's Incompleteness #Theorem: It not only says any sufficiently interesting #axiomatic theory has statements it can't prove (boring) -- it says that there are statements that are TRUE according to its own axioms, yet it cannot prove (WTF)