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2 THE MARKET: ITS STRUCTURE AND OPERATION

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In this chapter and in the next, we survey the market, its overall operations and achievements. Later we will analyze, separately, the different functional sectors that compose the market, and how these various sectors interact within the market. Here, we will contemplate the forest in its entirety, before scrutinizing the separate trees, and then examine the consequences for the other trees of the existence and growth of each separate tree.

Market Theory and the Price System

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