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'.

About the Author
Fabio Petri, Frank Hahn (University of Siena)

Reviews

'Many of the papers, whether historical or not, start with interesting overviews. All contain passages giving nice insights into or beautiful vistas over the field in question. The two introductions are helpful.' - Economica

Book Information
ISBN 9780415863087
Author Frank Hahn
Format Paperback
Page Count 544
Imprint Routledge
Publisher Taylor & Francis Ltd
Weight(grams) 725g