Publisher Description

This book develops a general economic theory that integrates various economic theories and ideas and establishes important relationships between economic variables that are not formally recognized in the economic literature. The author demonstrates how the basic model is integrated with neoclassical growth theory, Walrasian general equilibrium theory, and Ricardian distribution theory, and how these theories can be incorporated through a single set of equations with a microeconomic basis.The book offers new insights into income and wealth distribution between heterogeneous households, racial and national differences in growth and development, interdependence between different stock variables with portfolio choices among different markets. It will appeal to scholars of economists interested in an integrative theoretical approach to this discipline.

Back Cover

This book develops a general economic theory that integrates various economic theories and ideas and establishes important relationships between economic variables that are not formally recognized in the economic literature. The author demonstrates how the basic model is integrated with neoclassical growth theory, Walrasian general equilibrium theory, and Ricardian distribution theory, and how these theories can be incorporated through a single set of equations with a microeconomic basis. The book offers new insights into income and wealth distribution between heterogeneous households, racial and national differences in growth and development, interdependence between different stock variables with portfolio choices among different markets. It will appeal to scholars of economists interested in an integrative theoretical approach to this discipline.

Author Biography

Wei-Bin Zhang, PhD (Umeå, Sweden), is a Professor of Economics in Ritsumeikan Asia Pacific University, Japan. His main research fields are nonlinear economic dynamics, general economic theory, East Asian economic development, and Confucianism. He has published 240 academic articles in peer-review international journals and authorized 22 academic books. Prof. Zhang is editorial board members of 12 international journals. He is the editor of Encyclopedia of Mathematical Models in Economics (in two volumes) as a part of the unprecedented global effort, The Encyclopedias of Life Support Systems, organized by The UNESCO.

Table of Contents

The Time for a Grand Economic Theory.- The Basic Model for the Integration.- An Integration of Walrasian General Ricardian Distribution, and Neoclassical Growth Theories.- Education, National Debts, and Development Traps.- Income and Wealth Inequalities with Racial Human Capital Externalities.- Growth with Public Knowledge and Human Capital.- Population Dynamics with Endogenous Birth and Mortality Rates.- Health, Environment, Resources, and Government.- Preference Change, Social Status, Habits, and Fashion.- Portfolio Choice in General Dynamic Equilibrium.- Money and Unstable Economic Changes.- Growth Theory Enriched by Monopoly, Monopsony, and Game Theories.- Growth and Economic Structure with Perfect and Monopolistic Competition.- Trade Pattern, Tourism, and Global Development.- Alonso's Urban and Solow's Growth Models Integrated.- Miscellaneous Issues and Conclusion. 

Feature

Builds a general economic theory Integrates various economic theories, including neoclassical growth theory, Walrasian general equilibrium theory, and Ricardian distribution theory Examines the role of government and various markets in economic growth and development

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