This book, as the title suggests, explains how General equilibrium, the dominant conceptual framework in mainstream economics, describes a perfectly impossible world. Even with its counterfactual assumptions taken for granted, it fails on many levels. Under the impressive editorship of Ackerman and Nadal, this book will appeal to students and researchers in economics and related social science disciplines.
The Flawed Foundations of General Equilibrium Theory: Critical Essays on Economic Theory
This book addresses the gaps in undergraduate teaching of partial equilibrium analysis, providing a general equilibrium viewpoint to illustrate the assumptions underlying partial equilibrium welfare analysis.
General Equilibrium Theory: An Introduction presents to students general equilibrium analysis.
In The Flawed Foundations of General Equilibrium. Critical Essays on Economic Theory, edited by F. Ackerman and A. Nadal. Pp. 68–85. New York: Routledge. Ackerman, F. and A. Nadal (editors). (2004). The Flawed Foundations of General ...
Benetti, C. (2004) 'Money and Prices: The Limits of the General Equilibrium Theory', in F. Ackerman and A. Nadal (eds) The Flawed Foundations of General Equilibrium: Critical Essays on Economic Theory, London and New York: Routledge.
The Foundations of an Alternative Economic Paradigm Faruk Ülgen, Ramon Tortajada, Matthieu Méaulle, Rémi Stellian ... of the general equilibrium theory,” in F. Ackerman and A. Nadal (eds) The flawed foundations of general equilibrium, ...
The second half of the book addresses properties of the general equilibrium model that are still at the frontier of current research.
This book provides an accessible, undergraduate-level introduction to computable general equilibrium (CGE) models, a class of model that has come to play an important role in government policy decisions.
This book thus provides the reader with an introduction to what might be called a Post Walrasian research program that is developing as the antithesis of the Walrasian DSGE synthesis.
What I call the Shapley-Folkman-Starr Theorem first appears in the economic literature in Starr (1969). Starr credits Shapley and Folkman as the originators of part b and a weaker version of part c; ...