The Market: Equilibrium, Stability, Mythology (Paperback) book cover

The Market

Equilibrium, Stability, Mythology

By Sydney N. Afriat

© 2003 – Routledge

144 pages

Purchasing Options:$ = USD
Paperback: 9780415859868
pub: 2015-07-20
Hardback: 9780415300483
pub: 2002-09-19
eBook (VitalSource) : 9780203994917
pub: 2006-05-23
from $48.95

FREE Standard Shipping!
e–Inspection Copy


This punchy book unites mainline mathematical economics and sometimes idiosyncratic political economy. Freshness is brought to the market concept giving general equilibrium theory a new lease of life, and an opening of thought on such matters as free trade, globalization and the environment.

Where most theories of general equilibrium have been based on utility maximizing traders, Afriat here maintains the view that the topic essentially is concerned with aggregates and that anything to do with utility is at best secondary if not spurious. The book goes on to discuss political economy, in particular the idea of 'optimum', and its abuses, especially in doctrine related to the market.

This novel book will be of equal appeal to mathematical thinkers, those interested in the theory of market and political economists.


'This is an unusually elegant and imaginative book, written with verve and flair by a supremely well-informed theorist with an open mind and a critical eye.' - K. Vela Velupillai

About the Author

S. N. Afriat, currently associated with the University of Siena, Italy, has a long and distinguished rocord of publishing at the interface of mathematics and economics.

About the Series

Routledge Frontiers of Political Economy

In recent years, there has been widespread criticism of mainstream economics. This has taken many forms, from methodological critiques of its excessive formalism, to concern about its failure to connect with many of the most pressing social issues. This series provides a forum for research which is developing alternative forms of economic analysis. Reclaiming the traditional 'political economy' title, it refrains from emphasising any single school of thought, but instead attempts to foster greater diversity within economics.

Learn more…

Subject Categories

BISAC Subject Codes/Headings:
BUSINESS & ECONOMICS / Economics / Theory