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Some Developments in Economic Theory Since 1940: An Eyewitness Account

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  • K. ARROW.

Abstract

The article considers the evolution of some branches of modern economic theory from the perspective of the author’s biography as a scientist and his professional formation. It describes problems of econometrics, general equilibrium theory, uncertainty, economics of information, and growth. It is shown how different authors representing various fields came to similar conclusions simultaneously and independently, what were the problems, in response to which economists of the second half of last century developed their theories, and what were the contexts of such development.

Suggested Citation

  • K. Arrow., 2010. "Some Developments in Economic Theory Since 1940: An Eyewitness Account," VOPROSY ECONOMIKI, N.P. Redaktsiya zhurnala "Voprosy Economiki", vol. 4.
  • Handle: RePEc:nos:voprec:2010-04-1
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    Cited by:

    1. Samuli Leppälä, 2015. "Economic Analysis Of Knowledge: The History Of Thought And The Central Themes," Journal of Economic Surveys, Wiley Blackwell, vol. 29(2), pages 263-286, April.
    2. Reikin Vitaliy S., 2013. "Theoretical and methodological grounds of mainstream and their application in the context of shadow economy," The Problems of Economy, RESEARCH CENTRE FOR INDUSTRIAL DEVELOPMENT PROBLEMS of NAS (KHARKIV, UKRAINE), issue 4, pages 134-139.

    More about this item

    JEL classification:

    • A11 - General Economics and Teaching - - General Economics - - - Role of Economics; Role of Economists
    • B20 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925 - - - General

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