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This paper highlights the links between the descriptions of macroeconomicvariables and statistical moments of market trade, price, and return. Weconsider economic transactions during the averaging time interval {\Delta} asthe exclusive matter that determines the change of any economic variables. Weregard the stochasticity of market trade values and volumes during {\Delta} asthe only root of the random properties of price and return. We describe how themarket-based n-th statistical moments of price and return during {\Delta}depend on the n-th statistical moments of trade values and volumes or equallyon sums during {\Delta} of the n-th power of market trade values and volumes.We introduce the secondary averaging procedure that defines statistical momentsof trade, price, and return during the averaging interval {\Delta}2>>{\Delta}.As well, the secondary averaging during {\Delta}2>>{\Delta} introducesstatistical moments of macroeconomic variables, which were determined as sumsof economic transactions during {\Delta}. In the coming years, predictions ofthe market-based probabilities of price and return will be limited byGaussian-type distributions determined by the first two statistical moments. Wediscuss the roots of the internal weakness of the conventional hedging tool,Value-at-Risk, that could not be solved and thus remain the source ofadditional risks and losses. One should consider economic theory as a set ofsuccessive approximations, each of which describes the next array of the n-thstatistical moments of market transactions and macroeconomic variables, whichare repeatedly averaged during the sequence of increasing time intervals.

Economic Theory as Successive Approximations of Statistical Moments