Equilibrium and Disequilibrium in Economic Theory: A Confrontation of the Classical, Marshallian and Walras-Hicksian Conceptions

Author:

De Vroey Michel

Abstract

When the economic theory of the last decades becomes a subject of reflection for historians of economic theory, a striking feature which they will have to explain is the demise of the disequilibrium concept. Previously, economists had no qualms concerning the view that the market or the economy was exhibiting disequilibria. Amongst many possible quotations, the following, drawn from Viner's well-known article on Marshall, illustrates that:

Publisher

Cambridge University Press (CUP)

Subject

Economics and Econometrics,Philosophy

Cited by 8 articles. 订阅此论文施引文献 订阅此论文施引文献,注册后可以免费订阅5篇论文的施引文献,订阅后可以查看论文全部施引文献

1. As primeiras impressões de Hicks sobre a Teoria Geral;Revista de Economia Política;2014-06

2. Marshall and Walras, disequilibrium trades and the dynamics of equilibration in the continuous double auction market;Journal of Economic Behavior & Organization;2013-10

3. What can econophysics contribute to financial economics?;International Review of Economics;2011-02-06

4. The logic of Keynes' criticism of the Classical model;The European Journal of the History of Economic Thought;2002-12

5. Equilibrium and Disequilibrium in Walrasian and Neo-Walrasian Economics;Journal of the History of Economic Thought;2002-12

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