Financial Control Of A Competitive Economy Without Randomness
Source: Yale University
The monetary and fiscal control of a simple economy without outside randomness is studied here from the micro-economic basis of a strategic market game. The government's bureaucracy is treated as a public good that provides services at a cost. A conventional public good is also considered. In this and two companion essays, macro-economic problems of the monetary and fiscal control of an economy are viewed building up from the microeconomic basis of a strategic market game.