Category Archives: Toward a General Theory of Pricing

How Do Stock-Flow Relations Work in Economics and Are They Inappropriate for Price Dynamics?

The other day I did a post on the work of Katharina Pistor and included some very broad details of something related that I’m working on. Despite me saying clearly and multiple times in the piece that I was massively … Continue reading

Posted in Economic Theory, Market Analysis, Toward a General Theory of Pricing | 5 Comments

Anti-Equilibrium: Katharina Pistor and the Need for a Non-Market Equilibrium Framework for Understanding Financial Markets

Recently a friend of mine, Rohan Grey (founder of the excellent Modern Money Network), directed me to the work of Columbia law professor Katherina Pistor. Pistor’s work seems to be getting a lot of attention, having recently won the Max … Continue reading

Posted in Economic Theory, Toward a General Theory of Pricing | 9 Comments

Teleology and Market Equilibrium: Manifesto for a General Theory of Prices

Neoclassicals are a slippery bunch indeed. The moment you think that you’ve pointed out a flaw in their theoretical armor they turn around and say that the theory can accommodate the criticism. Soon after, you see them once again making … Continue reading

Posted in Economic Theory, Toward a General Theory of Pricing | 8 Comments