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Frank Hahn on the value of equilibrium economics

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Frank Hahn on the value of equilibrium economics It cannot be denied that there is something scandalous in the spectacle of so many people refining the analyses of economic states which they give no reason to suppose will ever, or have ever, come about. It probably is also dangerous. Equilibrium economics … is easily convertible into an apologia for existing economic arrangements and it is frequently so converted. Frank Hahn

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Frank Hahn on the value of equilibrium economics

Frank Hahn on the value of equilibrium economicsIt cannot be denied that there is something scandalous in the spectacle of so many people refining the analyses of economic states which they give no reason to suppose will ever, or have ever, come about. It probably is also dangerous. Equilibrium economics … is easily convertible into an apologia for existing economic arrangements and it is frequently so converted.

Frank Hahn

Lars Pålsson Syll
Professor at Malmö University. Primary research interest - the philosophy, history and methodology of economics.

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