Equilibrium economics — scandalous and dangerous

6 June, 2015 at 15:42 | Posted in Economics | Leave a comment

Frank-HahnIt cannot be denied that there is something scandalous in the spectacle of so many people refining the analyses of economic states which they give no reason to suppose will ever, or have ever, come about. It probably is also dangerous. Equilibrium economics … is easily convertible into an apologia for existing economic arrangements and it is frequently so converted.

Frank Hahn

 
 
 

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