Fardels Bear on Nostr: I remember an economics textbook I had at school. There was a model for perfect ...

I remember an economics textbook I had at school. There was a model for perfect competition, comprising an island divided into six equal areas, each having an equal amount of shoreline and hinterland. Any rise in prices automatically caused a fall in demand and vice versa. Keynesianism ruled, and monetarism was mentioned just once in a footnote. Obviously they went on to discuss the real world, but the model was enshrined as the mythical paradise from which everything was born.