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Joan Robinson and MIT

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Listed:
  • Geoffrey C. Harcourt

    (School of Economics, UNSW Business School, UNSW)

  • Harvey Gram

    (Queens College, City University of New York)

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.
(This abstract was borrowed from another version of this item.)

Suggested Citation

  • Geoffrey C. Harcourt & Harvey Gram, 2016. "Joan Robinson and MIT," Discussion Papers 2016-11, School of Economics, The University of New South Wales.
  • Handle: RePEc:swe:wpaper:2016-11
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    File URL: http://research.economics.unsw.edu.au/RePEc/papers/2016-11.pdf
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    References listed on IDEAS

    as
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    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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