In recent years certain leading figures in the world of economics
have called the usefulness of general equilibrium theory into
question. This superb new book brings together leading economic
theorists with important contributions to the ongoing debate.
General equilibrium theorists including Michio Morishima, Michael
Magill and Martine Quinzii debate strengths, weaknesses and
possible futures with leading thinkers such as Herb Gintis,
Pierangelo Garegnani and Duncan Foley, who seek to explain the
rejection of general equilibrium. Uniquely, none of the
contributors portray general equilibrium theory as the perfect
guide to market economies actual behaviour, but rather illustrate
that there is insufficient acquaintance with existing alternatives
and that general equilibrium theory is often used as an ideal
'benchmark'.
General
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