The Microeconomic Growth
This book primarily discusses what could make the economy remain stable and increase the level of coordination, both on the demand and supply side, a fascinating question for economists. In this context, it systematically analyzes the theory of consumption and production growth. Most of the existing economic growth theories fail to analyze consumption growth. That oversight is remedied here, greatly enhancing the usefulness of economic growth theory. Factors influencing consumption and production at the micro scale provide the foundations of the analyzing frame. An economic system with endogenous technological progress can most likely only be rapidly coordinated under market conditions similar to those in a monopoly competition market. Over the course of the work, readers will discover that there is another way of viewing the economic world which is different from regular textbooks.
Defines in detail the concepts which are also the basis of microeconomic theories, including labor, quality, utility density, individual rationality and so onOn this basis, it sets up a number of analytical tools such as consumer behavior theory, demand function, individual production function, and firm production functionThese theoretical tools in turn create a foundation for the comprehensive analysis on economic growth