Acton Institute Powerblog Archives

Post Tagged 'Economic equilibrium'

Does the equilibrium model work in the real world?

Note: This is the seventh post in a weekly video series on basic microeconomics. In previous videos in this series from Marginal Revolution University we learned how prices reach equilibrium and how the market works like an invisible hand coordinating economic activity. Continue Reading...

Every Market Form in a Single Chart

Reading through the German economist Walter Eucken’s work The Foundation of Economics (1951), I came across one of the most helpful charts for economic analysis I have yet to find. In it, Eucken gives every possible form of market in a single table: Eucken adds four qualifications that are important to keep in mind: “These forms of market are actual forms which have been or are to be found in actual economic life (often blended with one another, and existing alongside the forms of a centrally directed economy). Continue Reading...
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