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The conflict between general equilibrium and the Marshallian cross

Author

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  • Zaman, Asad
  • Saglam, Ismail

Abstract

This paper illustrates on a simple model of production economy how the concept of partial equilibrium can be in an unresolvable conflict with the general equilibrium.

Suggested Citation

  • Zaman, Asad & Saglam, Ismail, 2010. "The conflict between general equilibrium and the Marshallian cross," MPRA Paper 33256, University Library of Munich, Germany.
  • Handle: RePEc:pra:mprapa:33256
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    References listed on IDEAS

    as
    1. Steedman, Ian, 1988. "Sraffian Interdependence and Partial Equilibrium Analysis," Cambridge Journal of Economics, Oxford University Press, vol. 12(1), pages 85-95, March.
    2. A. Cohen & G. Harcourt., 2009. "Whatever Happened to the Cambridge Capital Theory Controversies?," VOPROSY ECONOMIKI, N.P. Redaktsiya zhurnala "Voprosy Economiki", vol. 8.
    3. Mas-Colell, Andreu & Whinston, Michael D. & Green, Jerry R., 1995. "Microeconomic Theory," OUP Catalogue, Oxford University Press, number 9780195102680.
    4. Kane, John, 1997. "Myth and measurement: The new economics of the minimum wage : David Card and Alan B. Krueger, New Jersey: Princeton University Press, 1995, x + 422," International Review of Economics & Finance, Elsevier, vol. 6(2), pages 219-222.
    5. Frederic Lee & Steve Keen, 2004. "The Incoherent Emperor: A Heterodox Critique of Neoclassical Microeconomic Theory," Review of Social Economy, Taylor & Francis Journals, vol. 62(2), pages 169-199.
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    Citations

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    Cited by:

    1. Lima, Gerson P., 2015. "Supply and Demand Is Not a Neoclassical Concern," MPRA Paper 63135, University Library of Munich, Germany.
    2. Mehmet Karacuka & Asad Zaman, 2012. "The empirical evidence against neoclassical utility theory: a review of the literature," International Journal of Pluralism and Economics Education, Inderscience Enterprises Ltd, vol. 3(4), pages 366-414.

    More about this item

    Keywords

    Demand curve; Partial equilibrium; General equilibrium;

    JEL classification:

    • D01 - Microeconomics - - General - - - Microeconomic Behavior: Underlying Principles

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