“Finding Equilibrium”—Losing Economics Comment on the Book Finding Equilibrium by Düppe, T. and Weintraub, E. R. ()
ABSTRACT
The main achievement of modern General
Equilibrium Theory (GET) is the proof of equilibrium’s existence. “The proof of
general equilibrium is the crowning achievement of mathematical economics” [1] [2]. One of the authors of “Finding Equilibrium”,
Weintraub Roy, published three books [3]-[5] and many papers over 30 years, to demonstrate and
convince economists that economics were becoming a mathematical science and
“These proofs became highly influential” ([5], p. xii). It might be that the proof of the
equilibrium existence is a mathematical achievement, but the question is
whether these proofs are harmonious with the economic situation in reality.
Share and Cite:
Davar, E. (2015) “Finding Equilibrium”—Losing Economics Comment on the Book Finding Equilibrium by Düppe, T. and Weintraub, E. R..
Modern Economy,
6, 201-206. doi:
10.4236/me.2015.62017.
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