Ebook: Exchange and Production - COMPETITION, COORDINATION & CONTROL

As its title suggests, this text presents economic principles that explain how our market-directed economy organizes and coordinates production and exchange among competing but nevertheless coopérât
ing people. The book concentrates on what is unfortunately called "microeconomics": the role of markets in which property rights are exchanged and contracts and coalitions are formed to enable greater production and resolution of conflicts of interest. Our premise is that what is called “macroeconomics” cannot be made coherent without these fundamentals.