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Restabilizing Dynamics: Construction and Constraint in the History of Walrasian Stability Theory

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  • Hands, D. Wade

Abstract

In Stabilizing Dynamics (1991) Roy Weintraub provides a history of stability theory from the work of Hicks and Samuelson in the late 1930s to the Gale and Scarf counterexamples in the 1960s. Unlike his earlier work in the history of general equilibrium theory (1979, 1985, 1988) this recent contribution is not an attempt to fit the Walrasian program into the narrow framework of some particular philosophy of natural science (such as Lakatos's methodology of scientific research programs). Rather, the theme in Stabilizing Dynamics is broadly social constructivist. Simply put, the constructivist view of science is “that scientific knowledge itself is constructed socially, in communities of scientists: Knowledge is constructed, not found†(p. 9).

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  • Hands, D. Wade, 1994. "Restabilizing Dynamics: Construction and Constraint in the History of Walrasian Stability Theory," Economics and Philosophy, Cambridge University Press, vol. 10(2), pages 243-283, October.
    • Handle: RePEc:cup:ecnphi:v:10:y:1994:i:02:p:243-283_00
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    Cited by:

    1. Jean-Sébastien Lenfant, 2018. "Substitutability and the Quest for Stability," Working Papers hal-01764115, HAL.
    2. D. Wade Hands, 2012. "The Rise and Fall of Walrasian Microeconomics: The Keynesian Effect," Chapters, in: Microfoundations Reconsidered, chapter 3, Edward Elgar Publishing.
    3. Kirtchik, Olessia & Boldyrev, Ivan, 2023. "“Rise and Fall” of the Walrasian Program in Economics: A Social and Intellectual Dynamics of the General Equilibrium Theory," SocArXiv er2va, Center for Open Science.

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