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Don Patinkin's PhD Dissertation as the Prehistory of Disequilibrium Theories

  • Goulven Rubin

In the opening sentence of Money, Interest, and Prices, Patinkin noted that his book was the outgrowth of ideas first presented in his doctoral dissertation. This claim has attracted the attention of most scholars who have written about his works in recent years. As shown by articles by such historians as Mauro Boianovsky, Perry Mehrling, and the present author, reading Patinkin's doctoral dissertation shed new light on his major work. However, those articles only contain partial presentations of the thesis. This essay helps to fill that gap. It offers a detailed presentation of the second part of Patinkin's dissertation and claims that it foreshadowed the research programs of disequilibrium theorists of the 1970s.

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Article provided by Duke University Press in its journal History of Political Economy.

Volume (Year): 44 (2012)
Issue (Month): 2 (Summer)
Pages: 235-276

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Handle: RePEc:hop:hopeec:v:44:y:2012:i:2:p:235-276
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  1. Grandmont, Jean-Michel, 1993. "Temporary general equilibrium theory," Handbook of Mathematical Economics, in: K. J. Arrow & M.D. Intriligator (ed.), Handbook of Mathematical Economics, edition 4, volume 2, chapter 19, pages 879-922 Elsevier.
  2. Goulven Rubin, 2002. "From equilibrium to disequilibrium: the genesis of Don Patinkin's interpretation of the Keynesian theory," The European Journal of the History of Economic Thought, Taylor & Francis Journals, vol. 9(2), pages 205-225.
  3. BOIANOVSKY, Mauro, 2001. "Patinkin, the cowles commission, and the theory of unemployment and aggregate supply," Working Papers 2001039, University of Antwerp, Faculty of Applied Economics.
  4. Perry Mehrling, 2002. "Don Patinkin and the origins of postwar monetary orthodoxy," The European Journal of the History of Economic Thought, Taylor & Francis Journals, vol. 9(2), pages 161-185.
  5. Roger Backhouse & Mauro Boianovsky, 2005. "Disequilibrium Macroeconomics: An Episode In The Transformation Of Modern Macroeconomics," Anais do XXXIII Encontro Nacional de Economia [Proceedings of the 33th Brazilian Economics Meeting] 012, ANPEC - Associação Nacional dos Centros de Pósgraduação em Economia [Brazilian Association of Graduate Programs in Economics].
  6. Amitava Krishna Dutt, 2002. "Aggregate Demand-Aggregate Supply Analysis: A History," History of Political Economy, Duke University Press, vol. 34(2), pages 321-364, Summer.
  7. Barro, Robert J & Grossman, Herschel I, 1971. "A General Disequilibrium Model of Income and Employment," American Economic Review, American Economic Association, vol. 61(1), pages 82-93, March.
  8. Roger Backhouse, 2002. "Don Patinkin: interpreter of the Keynesian revolution," The European Journal of the History of Economic Thought, Taylor & Francis Journals, vol. 9(2), pages 186-204.
  9. Benassy, Jean-Pascal, 1975. "Neo-Keynesian Disequilibrium Theory in a Monetary Economy," Review of Economic Studies, Wiley Blackwell, vol. 42(4), pages 503-23, October.
  10. Benassy, Jean-Pascal, 1976. "The Disequilibrium Approach to Monopolistic Price Setting and General Monopolistic Equilibrium," Review of Economic Studies, Wiley Blackwell, vol. 43(1), pages 69-81, February.
  11. William Darity, Jr. & Warren Young, 1995. "IS-LM: An Inquest," History of Political Economy, Duke University Press, vol. 27(1), pages 1-41, Spring.
  12. Davidson, Paul, 1969. "A Keynesian View of Patinkin's Theory of Employment: A Rejoinder," Economic Journal, Royal Economic Society, vol. 79(313), pages 181-82, March.
  13. Axel Leijonhufvud, 1974. "Keynes' Employment Function," History of Political Economy, Duke University Press, vol. 6(2), pages 164-170, Summer.
  14. De Vroey, Michel, 1997. "The Marshallian Market and the Walrasian Economy. Two Incompatible Bedfellows?," Discussion Papers (IRES - Institut de Recherches Economiques et Sociales) 1998004, Université catholique de Louvain, Institut de Recherches Economiques et Sociales (IRES).
  15. E. Roy Weintraub, 1974. "Keynes' Employment Function," History of Political Economy, Duke University Press, vol. 6(2), pages 162-164, Summer.
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