General equilibrium theory behind the iron curtain: the case of Victor Polterovich
In this paper we address the story of developments in general equilibrium theory (GET) in the USSR during the 1970s through the lens of a single biography. The Soviet advances in mathematical economics, only fragmentarily known in the West, give an occasion to reflect on the extension of the Walrasian paradigm to non-market societies, as well as on the ideological effects of GET and its interpretations in a Soviet context. Our contribution is focused on the development of general equilibrium theorizing in the work of Victor Meerovich Polterovich (b. 1937) who has been one of the leading figures in mathematical economics and general equilibrium theory in the USSR and post-Soviet Russia. His papers on the abstract models of exchange, dynamic general equilibrium and optimal growth theory, excess demand correspondences, monotonicity of demand functions, and disequilibrium theory were for the large part published in English and gained considerable attention within the field. We reconstruct the political and ideological basis of the general equilibrium concept and show how abstract mathematical models reflected the discursive shift from optimal centralized planning to various forms of decentralization. We argue that the Soviet work on general equilibrium was a part of the global development of mathematical economics but was not integrated into it institutionally
|Date of creation:||2013|
|Date of revision:|
|Publication status:||Published in WP BRP Series: Humanities / HUM, February 2013, pages 1-27|
|Contact details of provider:|| Postal: Myasnitskaya 20, Moscow 101000|
Web page: http://www.hse.ru/
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- Polterovich, V M, 1983. "Equilibrium Trajectories of Economic Growth," Econometrica, Econometric Society, vol. 51(3), pages 693-729, May.
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Economics Series Working Papers
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"Об Одной Модели Перераспределения Ресурсов
[A Model of Resource Redistribution]," MPRA Paper 22205, University Library of Munich, Germany.
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"Экономическое Равновесие И Оптимум
[Economic Equilibrium and the Optimum]," MPRA Paper 22359, University Library of Munich, Germany.
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- Dreze, Jacques H, 1975. "Existence of an Exchange Equilibrium under Price Rigidities," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 16(2), pages 301-20, June.
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"Стратегии Институциональных Реформ, Или Искусство Реформ
[Institutional Reform Strategies or Art of Reforms]," MPRA Paper 22751, University Library of Munich, Germany, revised 2007.
- Jean-Pascal Benassy, 1975. "Neo-Keynesian Disequilibrium Theory in a Monetary Economy," Review of Economic Studies, Oxford University Press, vol. 42(4), pages 503-523.
- Dana, Rose-Anne, 1995. "An extension of Milleron, Mitjushin and Polterovich's result," Journal of Mathematical Economics, Elsevier, vol. 24(3), pages 259-269.
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