Inframarginal Economics

This research monograph provides systematic and comprehensive materials for applying inframarginal analysis to study a wide range of economic phenomena. The analysis is based on a new overarching framework to resurrect the classical notion of division of labor and specialization, which is an essential source of increasing a nation s wealth. The framework absorbs many classical and neo-classical insights in a general equilibrium analysis and explains many micro- and macro-phenomena. Many areas of the discipline that have been customarily treated as separate branches can now be analyzed systematically within this integrated framework. These include, for example, micro-economics; macro-economics; development economics; international economics; urban economics; growth theory; industrial organization; applications of game theory in economics; economics of property rights; economics of transaction costs; economics of institutions and contract; economics of organization; economics of states; managerial economics; theory of hierarchy; new theory of the firm; theory of money; theory of insurance; theory of network and reliability.

Contents: Consumer-Producer's Decisions to Choose the Optimum Level and Pattern of Specialization; More General Smithian Models; The Labor Market and the Institution of the Firm; Endogenous Transaction Costs and Theory of Contract, Ownership, and Residual Rights; Exogenous Comparative Advantages in Technology and Endowment, Division of Labor, and Trade; Urbanization, Dual Structure Between Urban and Rural Areas, and the Division of Labor; Economics of Property Rights and Insurance and Risk of Coordination Failure of the Netwok of Division of Labor; Industrialization and the Division of Labor in Roundabout Production; Economic Growth Generated by Endogenous Evolution in Division of Labor; Experiments with Structures of Division of Labor and Evolution in Organization Information Acquired by Society; and other papers.