31
Victor Aguilar
1996
Simplified exposition of Axiomatic Economics
Economics
Theory,
Axiomatic
Economics
I have written a book entitled Axiomatic Theory of Economics. This<br />
book is about a new economic theory. It is not a simplified version of<br />
mainstream economics. It does not predict the future, calling neither<br />
prosperity or ruin in America. It is certainly not in the "how to be a<br />
salesman" genre, nor does it propose to tell the reader how to make<br />
money in the framework of current financial institutions. It is an abstract<br />
treatise. The purpose of this book is to give an axiomatic foundation<br />
for the theory of economics. The success of the axiomatic method<br />
employed by Euclid (in geometry), Kolmogorov (in probability), and<br />
others is well known and I claim that similar success can be realized in<br />
economics. However, by defining economics to be concerned with the<br />
creation of wealth rather than the allocation of scarce resources, I have<br />
not only solidified it but have shifted its basic paradigm. I address the<br />
issue of price and stock. Supply and demand does not work. This is a<br />
fundamental departure from mainstream economics comparable to that<br />
of Copernicus in astronomy.<br />
The purpose of this pamphlet is to give a simplified exposition<br />
which is not too mathematically demanding. This is accomplished by<br />
replacing an axiom to assume away the infinite summations so that<br />
readers need not be familiar with real analysis. The essential points<br />
remain intact, however, as the theorems apply as well to partial sums<br />
(including the 0â€™th partial sum) as to infinite ones. But the proofs are<br />
simple enough to facilitate a cursory reading.<br />
There is a glossary in the back of this pamphlet which defines<br />
terms unique to Axiomatic Theory of Economics. To read the proofs<br />
one must have at least a semester of calculus. The theorems are expressed<br />
in words as well as equations, however, so it is possible to<br />
follow the theory while skimming over most of the math.
http://www.axiomaticeconomics.com