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Appraising General Equilibrium Analysis

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  • Weintraub, E. Roy

Abstract

General equilibrium analysis is a theoretical structure which focuses research in economics. On this point economists and philosophers agree. Yet studies in general equilibrium analyses are not well understood in the sense that, though their importance is recognized, their role in the growth of economic knowledge is a subject of some controversy. Several questions organize an appraisal of general equilibrium analysis. These questions have been variously posed by philosophers of science, economic methodologists, and historians of economic thought. Is general equilibrium analysis a theory, a paradigm, a scientific research program, or a set of interrelated theories? Is it not any of these but rather a branch of applied mathematics? Is GE analysis associated with the growth of knowledge, or does it waste intellectual resources? How is it related to other work in economics? Is it connected to, or is it apart from, the concerns of applied economists?

Suggested Citation

  • Weintraub, E. Roy, 1985. "Appraising General Equilibrium Analysis," Economics and Philosophy, Cambridge University Press, vol. 1(1), pages 23-37, April.
    • Handle: RePEc:cup:ecnphi:v:1:y:1985:i:01:p:23-37_00
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    Cited by:

    1. Marchionatti, Roberto & Sella, Lisa, 2015. "Is Neo-Walrasian Macroeconomics a Dead End?," CESMEP Working Papers 201502, University of Turin.
    2. Stavros A. Drakopoulos & Anastassios D. Karayiannis, 2005. "A Review of Kuhnian and Lakatosian «Explanations» in Economics," History of Economic Ideas, Fabrizio Serra Editore, Pisa - Roma, vol. 13(2), pages 51-73.
    3. Jorge Iván González, 2016. "Sentimientos y racionalidad en economía," Books, Universidad Externado de Colombia, Facultad de Economía, edition 1, number 75, August.
    4. Sheila C. Dow, 2012. "Variety of Methodological Approach in Economics," Palgrave Macmillan Books, in: Foundations for New Economic Thinking, chapter 13, pages 210-230, Palgrave Macmillan.
    5. Kakarot-Handtke, Egmont, 2012. "Crisis and methodology: some heterodox misunderstandings," MPRA Paper 43260, University Library of Munich, Germany.
    6. Kakarot-Handtke, Egmont, 2012. "General formal foundations of the virtuous deficit–profit symmetry and the vicious debt deflation," MPRA Paper 42912, University Library of Munich, Germany.
    7. Jean-Sébastien Lenfant, 2018. "Substitutability and the Quest for Stability," Working Papers hal-01764115, HAL.

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