book is about a new economic theory. It is not a simplified version of

mainstream economics. It does not predict the future, calling neither

prosperity or ruin in America. It is certainly not in the "how to be a

salesman" genre, nor does it propose to tell the reader how to make

money in the framework of current financial institutions. It is an abstract

treatise. The purpose of this book is to give an axiomatic foundation

for the theory of economics. The success of the axiomatic method

employed by Euclid (in geometry), Kolmogorov (in probability), and

others is well known and I claim that similar success can be realized in

economics. However, by defining economics to be concerned with the

creation of wealth rather than the allocation of scarce resources, I have

not only solidified it but have shifted its basic paradigm. I address the

issue of price and stock. Supply and demand does not work. This is a

fundamental departure from mainstream economics comparable to that

of Copernicus in astronomy.

The purpose of this pamphlet is to give a simplified exposition

which is not too mathematically demanding. This is accomplished by

replacing an axiom to assume away the infinite summations so that

readers need not be familiar with real analysis. The essential points

remain intact, however, as the theorems apply as well to partial sums

(including the 0’th partial sum) as to infinite ones. But the proofs are

simple enough to facilitate a cursory reading.

There is a glossary in the back of this pamphlet which defines

terms unique to Axiomatic Theory of Economics. To read the proofs

one must have at least a semester of calculus. The theorems are expressed

in words as well as equations, however, so it is possible to

follow the theory while skimming over most of the math.