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The study of disequillibrium is the only thing importend in the real world. To explain how the market reaches equillibrium (mostly only in theory) or how it at
by nickik 14y ago
The study of disequillibrium is the only thing importend in the real world.
To explain how the market reaches equillibrium (mostly only in theory) or how it at least sometimes moves towards equillibrium (mostly in the real world) is what economic analysis must provide. Just like Darwin explained what make evolution work.
The Theory behind this is called Market Process Theory, it is mostly created by people from the Austrian School of Economics but also from a lot of swedish economist.