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Joan Robinson and MIT

Author

Listed:
  • Harvey Gram

    (Ph. D. Program in Economics, Graduate Center, CUNY)

  • Geoffrey Harcourt

    (University of New South Wales, Australia)

Abstract

The great question which has always haunted the type of analysis offered by the MIT economists in answer to Robinson's provocative critique (1953) has always been her own question: how to get into equilibrium? If the notion of "vision at a distance", inherent in dynamic equilibrium analysis (Dorfman, Samuelson, and Solow, 1958) means co-ordination of long-term expectations, recent work shows theory, that "getting into equilibrium" is an impossibility. This vindicates Robinson's position in the capital controversy, at least with respect to the MIT economists.

Suggested Citation

  • Harvey Gram & Geoffrey Harcourt, 2015. "Joan Robinson and MIT," Working Papers 9, City University of New York Graduate Center, Ph.D. Program in Economics.
    • Handle: RePEc:cgc:wpaper:009
    as

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    References listed on IDEAS

    as
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    More about this item

    Keywords

    Joan Robinson; dynamic equilibrium;

    JEL classification:

    • A10 - General Economics and Teaching - - General Economics - - - General
    • B30 - Schools of Economic Thought and Methodology - - History of Economic Thought: Individuals - - - General

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