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The formal foundations of theoretical economics must be nonbehavioral andepitomize the interdependence of real and nominal variables that constitutesthe monetary economy. This is a cogent conclusion from the persistentcollapse of behavioral and real models. Conceptual rigor demands, first, totake objective-structural axioms as a formal point of departure and, secondly,to clarify the interrelations of the fundamental concepts income and profit.The present paper reconstructs the characteristic properties of a Walrasianeconomy in structural axiomatic terms, generalizes them and explores theconsequences for our understanding of the working of the economy we happento live in.

The Calculating Auctioneer, Enlightened Wage Setters, and the Fingers of the Invisible Hand