| Author: | Hart, N. |
| Title: | Equilibrium and time: Marshall's dilemma |
| Journal: | Journal of Economic Methodology
1996 : DEC, VOL. 3:2, p. 285-306 |
| Index terms: | ECONOMICS METHODOLOGY RESEARCH |
| Language: | eng |
| Abstract: | The neglect and misinterpretation of Marshall's treatment of time led many of his followers and critics to overlook the significance of the qualifications and criticisms of equilibrium analysis in his Principles. This misinterpretation arises from a failure to fully understand the purpose and method of Marshall's analysis. Marshall's methodological struggles in Principles did not arise from an attempt to preserve the concept of competitive equilibrium in a world where increasing returns are pervasive. |
SCIMA