The Economics of Order and Disorder: The Market as Organizer and Creator

This work analyzes the operation and demise of institutions in economics--starting with the notion of self-organization--taking into account the intervention of history, chance, necessity, and will. Beginning with the theory of microeconomics, Lesourne builds precise models based on explicit hypotheses and draws out the significance of the propositions obtained. Using systems, evolutionary and general equilibrium theories, as well as literature on institutional economics, Lesourne steps out of the present conceptual framework of microeconomics.