Why are leading economists from around the world reading this book? BECAUSE IT: ". . . captures head-on the mathematical and analytic weaknesses of neoclassical economics . . . and offers . . . ontological strengths that until now have largely eluded so many of the dissenters from economics' mainstream." – Richard Parker, Harvard University, US . . . answers 3 BIG QUESTIONS . Every quantitative order (e.g. length, temperature and angle) has a metrical structure. Market-value is the dominate quantitative order of a market economy. Therefore, market-value’s metric is a primary underlying structure of a market economy. What is market-value’s metric? What does that structure entail about the operation of an economy? Most especially, what does it tell us about how the huge upwards redistribution of wealth and income has been engineered? ". . . provides foundations on which to tackle the devastating social and economic problems of the present age." – Geoff Harcourt, Cambridge University, UK ". . . a deep re-think, this ground-breaking study teaches new lessons about the very foundations of economics." – Lars Syll, Malmö University, Sweden ". . . a must read for all those who recognise the need to undermine the damaging hegemony of mainstream neoclassical economics." – C. P. Chandrasekhar, Jawaharlal Nehru University, India "A simple idea but a great book. . . . Its analysis . . . leads us to profound truths." – André Orléan, EHESS, Paris ". . . shows that so-called "equilibrium" is impossible beyond the realm of individual and isolated markets . . . Some of his insights will no doubt become the key building blocks of the new economics the world needs so desperately today." – Richard Koo, Nomura Research Institute, Japan “. . . shows . . . that general equilibrium - the holy grail of conventional economics - is logically impossible; and that inflation is not neutral but redistributional." – Jonathan Nitzan, York University, Canada "Market-value is a remarkable contribution of Edward Fullbrook for a better understanding of the weaknesses of the basic concepts of mainstream theory. It paves the road for a critical stance about orthodox economics. It is an essential tool for everybody interested in economics and epistemology of economics.” – Gustavo Marqués, University of Buenos Aires "The book is for those who want to not only understand the economy without fitting it into generally accepted patterns, but also to make the world a better place without fear of new knowledge.” – Elena Sapir, P.G. Demidov Yaroslavl State University, Russia " Market-value captures head-on the mathematical and analytic weaknesses of neoclassical economics: first, its assumption of equilibrium as an economy's core end, second its misapprehension of what price is measuring and why. Positing--and then describing--a radically-empirical notion of metrics, Edward Fullbrook . . . in a profound way overcomes the gulf between micro- and macro-economic reasoning as well as exchange and distribution. For heterodox economists, it offers a rich work-project of articulation and application that holds the promise of a far more unified and mathematically-satisfying analytics--one with epistemic and ontological strengths that until now have largely eluded so many of the dissenters from economics' mainstream." ̶ ̶̶̶ ̶ Richard Parker, Kennedy School of Government, Harvard University "Edward Fullbrook . . . has ventured into what very few of us have even tried: establishing a macro-foundation of microeconomics. Starting with criticisms of the upside-down use of mathematics in economics, he shows that so-called "equilibrium" is impossible beyond the realm of individual and isolated markets once the reality of how market values are perceived and acted upon is taken into account. Some of his insights will no doubt become the key building blocks of the new economics the world needs so desperately today." ̶ ̶̶̶ ̶ Richard Koo, Nomura Research Institute, Japan "In a deep re-think, this ground-breaking study teaches new lessons about the very foundations of economics. It is a book for philosophers and economists alike and for anyone concerned with the very core of assumptions on which economics is founded. Market-value is the ultimate foundation of economic theory. In mainstream equilibrium economics, it is standardly analyzed with axiomatic methods. One of the main ideas underlining this book is that deductions instead should build on empirically derived premises and that economics should take as its starting point existing empirical metric structures of measurement orders in real-world systems.Fullbrook presents a new analytical framework that is a stimulating contribution to the ongoing debates on the very foundations of economics. It is a must for anyone seeking an understanding of the limits and abuses of standard economics and presents a common theoretical frame of reference for heterodox economists interes