Status Updates From Value and Capital: An Inqui...

Technically done with JR's classic, but I'm going to review a few chapters from part 4 as well as the mathematical appendix before giving this a review. Thoughts and conjectures are swirling, and I need to dig through them before reaching any conclusions.

I'm gonna reread the chapter on technical complementarity and substitution another time, but first I'm going to grab some turkey.

Chapter 7 outlined the equilibrium and stability conditions for a firm in a competitive market, both in the case of single factor of production and output product, and in the case of many factors and joint production. Makes for a good recap of production theory from my microeconomics course.

Who would have guessed it, J.R. Hicks already stumbled upon the possibility of Sonnenschein-Mantel-Debreu results in general equilibrium theory, i.e. multiple market-clearing equilibria when the market excess demand function has multiple roots.

So far just a great recap of the first two chapters from my intermediate microeconomics class: consumer preferences and ordinal utility, indifference curves and the convexity assumption, marginal rate of substitution and the decreasing rate thereof, relative prices and budget constraints, optimal decision making, the substitution and income effects, inferior and Giffen goods, etc.

Tons of stuff to digest.

This book is real eye opening even after studying over 1 year worth of grad level economics