TITLE:
New Understanding of Law of Supply and Demand and Perfect Economic Competition for Effective Economic Growth and Political Systems
AUTHORS:
Revaz Lordkipanidze
KEYWORDS:
Economic Growth, Economic Competition, Political System, Efficiency, Business Concentration
JOURNAL NAME:
Theoretical Economics Letters,
Vol.13 No.5,
September
28,
2023
ABSTRACT: With the application of the laws of physics in economics and correcting some of the
classical theoretical visions of perfect economic competition, the paper
explores the possibilities of applying the results obtained in the practice of
the global market and political relations. In the work, using the laws of
physics, advanced technologies of medicine and other science-intensive branches
of the economy, the objective laws of the market are investigated and, on this
basis, conclusions are drawn to improve political relations in the modern tense world. For so needed fast effective
economic growth to long strategic future, presented article researches
comprehension of supply-demand and perfect competition since classical economic
theory and shows, that countries with a two-party public policy system are more
justice and efficient economically in international relations, than countries
with one or much more than 2 parties. In re-thinking the modern clash of
civilizations, the study used multifactorial methods of economic extrapolation
and elements of analysis from physics and mathematics. Logically, work’s
argumentations prove, that maximally productive perfect competition can operate
only by possibly equal natural two poles of the market and not under the
endless growth of competitors. The different models of a progressive two-party
political system act in the United States and other some modern large
countries, but those undemocratic imperial countries which have turned into
dictatorships or chaotic conglomerations and ignored interests of also needed
for progress small countries have disappeared from political life.