Toward a Third Revolution in Economic Thinking:: The Concept of Balanced (Equilibrium) Growth and Social Economics
Abstract
Pantaleoni used to say that there are two categories of economists—those who can, in the sense of being able to produce original work, and those who cannot. A more meaningful and more useful distinction can be made between those who reason about the given problems in terms of stable equilibrium (most of them classicists) and those who do their thinking in terms of unstable equilibrium (actually stable disequilibrium) and sheer disequilibrium (most of them modern and contemporary scientists).
Citation
Rugina, A.N. (1983), "Toward a Third Revolution in Economic Thinking:: The Concept of Balanced (Equilibrium) Growth and Social Economics", International Journal of Social Economics, Vol. 10 No. 1, pp. 3-45. https://doi.org/10.1108/eb013928
Publisher
:MCB UP Ltd
Copyright © 1983, MCB UP Limited