The general economic theory: an integrative approach

Intro -- Preface -- Contents -- 1 The Time for a Grand Economic Theory -- 1.1 The Synergetic Economics Generalizes the Foundations of Economic Analysis -- 1.2 Speed and Time Scale in Synergetic Economics -- 1.2.1 Adam Smith (1723-1790) -- 1.2.2 Ricardo (1772-1823) -- 1.2.3 Malthus (1766-1834) -- 1.2.4 Marx (1818-1883) -- 1.2.5 The Walrasian General Equilibrium Theory -- 1.3 The Time to Integrate Economic Theories -- 1.4 The Structure of the Book -- References -- 2 The Basic Model for the Integration -- 2.1 The Basic Model -- 2.1.1 The Production Sector -- 2.1.2 The Household's Current Income, Disposable Income, and Budget -- 2.1.3 The Utility Function and Optimal Behavior -- 2.2 The Basic Model with the Cobb-Douglas Functions -- 2.3 The Theoretical Foundation of the Utility Function -- 2.4 The Basic Model Generates the Keynesian Consumption Function -- 2.5 The Basic Model Generates the Solow Growth Model with Taste Change -- 2.6 The Basic Model Generates the Ramsey-Cass-Koopmans Model with Preference Change -- References -- 3 An Integration of Walrasian General Equilibrium, Ricardian Distribution, and Neoclassical Growth Theories -- 3.1 Integrating the Walrasian General Equilibrium, Ricardian Distribution and Neoclassical Growth Theories -- 3.1.1 The Production Functions and Marginal Conditions -- 3.1.2 Household Behavior -- 3.1.3 Demand and Supply of the Three Sectors and Full Employment of Factors -- 3.2 Dynamic Behavior of the Economy -- 3.3 Changes in the Preferences and Human Capital Affect the Dynamics -- 3.3.1 Group 1 Augments the Propensity to Save -- 3.3.2 Group 1 Improves the Human Capital -- 3.3.3 Group 3 Increases Propensity to Consume Agricultural Good -- 3.3.4 Group 3's Population Is Increased -- 3.3.5 Group 1's Population Being Increased -- 3.4 Business Cycles Due to Exogenous Shocks in the General Model.

This book develops a general economic theory that integrates various economic theories and ideas and establishes important relationships between economic variables that are not formally recognized in the economic literature. The author demonstrates how the basic model is integrated with neoclassical growth theory, Walrasian general equilibrium theory, and Ricardian distribution theory, and how these theories can be incorporated through a single set of equations with a microeconomic basis. The book offers new insights into income and wealth distribution between heterogeneous households, racial and national differences in growth and development, interdependence between different stock variables with portfolio choices among different markets. It will appeal to scholars of economists interested in an integrative theoretical approach to this discipline.