“Finding Equilibrium”—Losing Economics Comment on the Book Finding Equilibrium by Düppe, T. and Weintraub, E. R.

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DOI: 10.4236/me.2015.62017    3,165 Downloads   4,602 Views  
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ABSTRACT

The main achievement of modern General Equilibrium Theory (GET) is the proof of equilibrium’s existence. “The proof of general equilibrium is the crowning achievement of mathematical economics” [1] [2]. One of the authors of “Finding Equilibrium”, Weintraub Roy, published three books [3]-[5] and many papers over 30 years, to demonstrate and convince economists that economics were becoming a mathematical science and “These proofs became highly influential” ([5], p. xii). It might be that the proof of the equilibrium existence is a mathematical achievement, but the question is whether these proofs are harmonious with the economic situation in reality.

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Davar, E. (2015) “Finding Equilibrium”—Losing Economics Comment on the Book Finding Equilibrium by Düppe, T. and Weintraub, E. R.. Modern Economy, 6, 201-206. doi: 10.4236/me.2015.62017.
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