Implications

Abstract

From this point on I shall speak of what conclusions can be drawn from the theory of power described in the foregoing with respect to a variety of problems in economic theory. In general, it is difficult to gainsay what contemporary economic theory tells us, provided we can accept its assumptions. However, I base my position on the argument that we are unable to understand economic realities adequately by means of this theory because its assumptions are so far removed from the facts of the real world. For this reason, I chose to construct a theory of power as a second approximation, as it were, to the economies of the real world. We can only begin to evaluate this so-called second approximation by asking what conclusions can be derived from it. Therefore I shall describe the various conclusions that can be derived, and leave the world of scholarship with the decision as to what value it possesses.