|
Post
Keynesian economists have followed Joan
Robinson's criticism of general equilibrium
theory as abolishing history by allowing
all contracts to be executed today for
all future contingencies. This was the
justification for the support of financial
innovation to provide for the completeness
of futures markets. The recent crisis
has shown that force of history. Instead,
many evolutionary and Keynesian economists
have suggested the approach of cumulative
causation as an approach that includes
history and eschews equilibrium. This
approach may provide a way to take history
seriously in economic analysis.
April
8, 2011.
|
|
|
|
This Document is in Adobe
Acrobat format and would
need a PDF reader to
view it. |
|
 |
View/
Download the
full texst in PDF format |
|
if
you have problem
opening the file, right click
on hyperlink and select "SaveTarget
as" to save
the file on your hard drive. |
|
Size:
104 KB
App. Download Time:
01 min @ 28kbps |
|
|
| |
|
Click below
to get Adobe
Acrobat Reader, a free software
to view and print Adobe Portable
Document Format (PDF) files. |
|
 |
|
|
|
| |
|