IDEAS home Printed from https://ideas.repec.org/a/elg/rokejn/v4y2016i3p250-263.html
   My bibliography  Save this article

Augusto Graziani and general economic equilibrium: from statics to dynamics

Author

Listed:
  • Mario Pomini

    (University of Padua, Italy)

Abstract

Graziani has always maintained an attitude of great respect and admiration for the theory of general equilibrium. In his 1965 book, he managed to solve the problematic elements contained in the static part of the theory. Abandoning the original assumptions and introducing new specifications, he tried to demonstrate the logical consistency of all systems of equations. The real issue was posed by the dynamic part of the theory. Economic dynamics is a process of structural change and not the quiet path of some sort of steady-state process. The attempt proposed by Graziani in the 1960s to turn the static general equilibrium into a dynamic one produced an interesting result. Graziani's dynamic approach in many respects has the same logical structure as the endogenous growth literature that flourished in the 1980s and 1990s. Graziani's contribution is relevant not only from the point of view of the historical analysis of the evolution of economic ideas, but, most importantly, it can contribute to clarifying the roots of the new approach to economic growth.

Suggested Citation

  • Mario Pomini, 2016. "Augusto Graziani and general economic equilibrium: from statics to dynamics," Review of Keynesian Economics, Edward Elgar Publishing, vol. 4(3), pages 250-263, July.
    • Handle: RePEc:elg:rokejn:v:4:y:2016:i:3:p250-263
    as

    Download full text from publisher

    File URL: http://www.elgaronline.com/abstract/journals/roke/4-3/roke.2016.03.02.xml
    Download Restriction: Restricted access
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Giovanni Michelagnoli, 2021. "The modern Italian debate on the Walrasian theory of capitalization (1960-1971)," HISTORY OF ECONOMIC THOUGHT AND POLICY, FrancoAngeli Editore, vol. 10(1), pages 131-155.

    More about this item

    Keywords

    Augusto Graziani; endogenous growth; history of Italian economic thought;
    All these keywords.

    JEL classification:

    • B3 - Schools of Economic Thought and Methodology - - History of Economic Thought: Individuals
    • B5 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches
    • D5 - Microeconomics - - General Equilibrium and Disequilibrium

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:elg:rokejn:v:4:y:2016:i:3:p250-263. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Phillip Thompson (email available below). General contact details of provider: http://www.elgaronline.com/roke .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.