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Mining improbable postulates and the theory of diverting toys(Advances in General Equilibrium Theory) Donald A. Walker Edward Elgar, 1997, 165 pp


  • David Hoaas


Walker's Advances in General Equilibrium Theory summarizes his position on the usefulness and appropriateness of much of modern general equilibrium modeling. He argues that much of modern general equilibrium modeling does not have the objective of explaining the real economy. His comments concerning general equilibrium theory are easily seen to be related to his study of Walras. In his text, Walker is critical of the general equilibrium theorizing of a number of well-known economists. He spends the majority of the book tearing down general equilibrium theory and models as they are presented in literature. He concludes his book by summarizing his opinion about how realistic models of the economy should be structured. Copyright International Atlantic Economic Society 2000

Suggested Citation

  • David Hoaas, 2000. "Mining improbable postulates and the theory of diverting toys(Advances in General Equilibrium Theory) Donald A. Walker Edward Elgar, 1997, 165 pp," Atlantic Economic Journal, Springer;International Atlantic Economic Society, vol. 28(1), pages 104-113, March.
  • Handle: RePEc:kap:atlecj:v:28:y:2000:i:1:p:104-113
    DOI: 10.1007/BF02300535

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    References listed on IDEAS

    1. Leamer, Edward E, 1983. "Let's Take the Con Out of Econometrics," American Economic Review, American Economic Association, vol. 73(1), pages 31-43, March.
    2. N/A, 1985. "General Policy," India Quarterly: A Journal of International Affairs, , vol. 41(1), pages 74-79, January.
    3. Ballard, Charles L. & Fullerton, Don & Shoven, John B. & Whalley, John, 2009. "A General Equilibrium Model for Tax Policy Evaluation," National Bureau of Economic Research Books, University of Chicago Press, edition 0, number 9780226036335.
    4. John J. Siegfried, 1998. "Who Is a Member of the AEA?," Journal of Economic Perspectives, American Economic Association, vol. 12(2), pages 211-222, Spring.
    5. Smith, Vernon L, 1982. "Markets as Economizers of Information: Experimental Examination of the "Hayek Hypothesis"," Economic Inquiry, Western Economic Association International, vol. 20(2), pages 165-179, April.
    6. Donald A. Walker, 1984. "Is Walras's Theory of General Equilibrium a Normative Scheme?," History of Political Economy, Duke University Press, vol. 16(3), pages 445-469, Fall.
    7. Shoven, John B & Whalley, John, 1984. "Applied General-Equilibrium Models of Taxation and International Trade: An Introduction and Survey," Journal of Economic Literature, American Economic Association, vol. 22(3), pages 1007-1051, September.
    8. Lucas, Robert Jr., 1972. "Expectations and the neutrality of money," Journal of Economic Theory, Elsevier, vol. 4(2), pages 103-124, April.
    9. N/A, 1985. "General Policy," India Quarterly: A Journal of International Affairs, , vol. 41(1), pages 112-117, January.
    10. Hicks, J. R., 1975. "Value and Capital: An Inquiry into some Fundamental Principles of Economic Theory," OUP Catalogue, Oxford University Press, edition 2, number 9780198282693.
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    Cited by:

    1. Glenn Hueckel, "undated". "Walker's "Equilibrium": A Review Essay," Claremont Colleges Working Papers 2002-16, Claremont Colleges.

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