Die Himmel über uns: Über die Bedeutung des Gleichgewichts für die Wirtschaftswissenschaft
This article was published in Freeman, Alan (2006): Die Himmel über uns. Über die Bedeutung des Gleichgewichts für die Wirtschaftswissenschaft, EXIT! Krise und Kritik der Warengesellschaft 3, 212-241 It is the German translation of an chapter originally published in Mosini, V (ed) (2007) Equilibrium in Economics: Scope and Limits. London: Routledge ISBN 0415391377 It was entitled ‘Heavens above: what equilibrium means for economics’, and appeared on pp240-260. The book was devoted to a dialogue between the natural and the social sciences on the concept of equilibrium, arising from a series of seminars organised by the Centre for the Political and Natural Sciences by Valeria Mosini, in 2006. In this article I suggest how a natural scientist can understand the use which economics makes of the word ‘equilibrium’. I argue that a simple concept, unexceptionable for the study of many physical phenomena, has been transformed into something completely different. If, therefore, we naively expect to find it applied in economics in the same way as ‘energy’ in physics or ‘molecule’ in chemistry, as a means of describing and explaining what an impartial observer may independently verify, we will misunderstand its real significance. My basic thesis is that the educated public makes a mistake in accepting, at face value, the claim that economics conducts itself as a science. I will argue that, as at present practiced, it conducts itself as a religion. I argue that the concept of equilibrium is the organising principle of this religion.
|Date of creation:||2006|
|Date of revision:|
|Publication status:||Published in EXIT! Krise und Kritik der Warengesellschaft 3 (2006): pp. 212-241|
|Contact details of provider:|| Postal: Ludwigstraße 33, D-80539 Munich, Germany|
Web page: https://mpra.ub.uni-muenchen.de
More information through EDIRC
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Freeman, Alan & Kliman, Andrew, 2000. "Two Concepts of Value, Two Rates of Profit, Two Laws of Motion," MPRA Paper 6715, University Library of Munich, Germany.
When requesting a correction, please mention this item's handle: RePEc:pra:mprapa:6892. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Joachim Winter)
If references are entirely missing, you can add them using this form.