The Chimera of Macroeconomics

  For better or for worse, we are born with limited physical and mental capacities vis-à-vis unlimited desires of indefinitely many kinds. Providentially, we have to gratify each desire bit by bit every once in a while. Yes, consumption of goods and services is periodical while we are in Here.              On the other hand, nothing pleasant to consume comes for free. Consequentially, we have to produce utilities, necessary or desirable, directly or indirectly, and that also periodically. In modern times, our life is communal as well as private; we spend some time in the public arena producing some things potentially utile and consuming other actual utilities. Particularly we trade periodically in the public market of consumable products on one hand and creative services on the other.              Now, a clear definition, may it be implicit, of the accountin...

  The market as featured in economics is a typical microcosm out of indefinitely many markets for trade in goods, services, rental rights, physical or intellectual assets and credits or other financial instruments. By conception, there in each and all the markets surely is the unit of account (U), such as $, €, ¥ or ₤, dictated by the sovereignty.              Moreover, there on each side of demand or supply is absolutely no budget limit to each and all participants. Each item such as the apple takes the infinitesimal , so to speak, out of the whole budget for all the utilities of various disguises of all the members of each household; the same for all the participating households in the market of the community.              Here we make a thought experiment, or a scenario game of imagination. We apply the market logic to the consumer choice model et cetera ...