Lagrange calculus equates the marginal rate of substitution with the economic rate of substitution. While capable of deriving a negative input demand relation, its result is inconsistent with a pre-ordered output or input and fails to ensure output maximization or cost minimization. A simple algebraic or geometric intersection can always produce the desired result, thereby rendering this calculus entirely redundant. This book then rigorously proves that the Lagrange calculus is not a calcu...

Up till now, Economics is written in p-q 2 dimensions. This book includes the space variable and makes Economics 3-dimensional. It then overhauls all economic theories, especially the competition theories: monopoly demand is more elastic, colluded duopoly covers the whole market; kinked demand is redundant; etc.This book is suitable for courses like Microeconomics, Customer Relation Management, Industrial Organisation, etc.

Utility companies are monopolistic, but they must produce at full capacity. Therefore, they are unable to pursue maximum profits by textbook standards. Also, when faced with peak and off-season demand, many ot them choose to implement price differentiation. Were it not for their exclusive position, such behavior would be self-destructive. This book devises a simple utility pricing policy that allows full capacity production, prevents bankruptcies, regulates peak and off-peak demand, and en...

Ronald Jones uses two quantity equations to solve for a quantity equilibrium, and two price equations to solve for a price equilibrium. From these two price and quantity equilibria, he claims to achieve a country’s general equilibrium. Furthermore, with two unrelated country equilibria, he claims to achieve trade equilibrium. That is an ambition too large.

Bertil Ohlin was dissatisfied with Ricardo’s use of only labor to explain international trade, so he introduced other inputs, such as land. In place of comparative advantage, he used input abundance and intensity to explain trade. Jones, Kemp, and Rybczynski tried to interpret factor abundance and intensity using Ricardo’s production possibility curve (PPC). Naturally, they ended up with the same comparative advantage conclusion. In addition, they overlooked a fundamental deficiency of the...

Pareto's contract curve is a geometric concept. This booklet disproves it geometrically. There are two conditions for its existence: the Edgeworth Box must be a square, and the isoquants must be symmetric. Since upholding both conditions simultaneously is impossible, existing contract curves are fabrications.

Is road the same as traffic? Up till now, economics has treated road and traffic as one. Instead, this book handles them separately, but the two are linked together by a key element: toll, even a zero one. Is road private or public? This book shows that the distinction is not so simple. This book covers 3 road-or-traffic economists and connects their piecemeal writings to form a complete theory of road and traffic. This book detests all the existing notions of toll, especially congestion t...

Pareto’s contract curve is a geometric concept; consequently, many textbooks supplement it with mathematical justification. This booklet disproves such mathematics. It argues that treating two antagonistic firms as a single entity is flawed, and that maximizing an ever-increasing objective can never yield a solution. Furthermore, this paper clarifies that output is a third-dimensional measure; therefore, all attempts to find a solution using a two-dimensional Edgeworth box are either incor...

Merger & Acquisition can enlarge a business to take advantage of the so-called economies of scale, but there is another conspiracy. This book teaches you how to raid a company, poor or rich, and even your own company. But if you don’t want to be a raider, do you still buy or keep those stocks?

Modigliani and Miller (1958) advocated more borrowing for higher rate of return. This paper uses FinTech to update their theorem. It also proves that FinTech’s multiplier is more magical than the deposit one.

What is business cycle? It is economic forecast. Forecasting is fortune telling; it is superstition; it is not science. This book reveals the true face of several great economic forecast models.

Protectionists apply import tariff to raise revenue, and to protect domestic producers. This book first disproves previous protectionist theories by Abba Lerner, Tibor Scitovsky, and A.C. Pigou. It then proves that such measure backfires automatically. When the foreign country can always sell to (buy from) other countries, the backfire is lethal. Raising revenue is illusionary, for the host country does pay the tariff-included price. When you rob your own family members, and when you only ...