On the Impossibility of Reducing the Surplus Approach to a Neoclassical 'Special Case': A Criticism of Hahn in a Solowian Context
We propose a new criticism of Frank Hahn's attempt to prove that the surplus approach constitutes no more than a 'special case' of the neoclassical model of intertemporal general equilibrium. In particular, we show that Hahn's 'special case' is vitiated by the paradox of determining the past as a function of the future. In order to make the communication between schools of thought easier, we present our criticism of Hahn within a mathematical framework drawn from the well-known Solow growth model.
Year of publication: |
2010
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Authors: | Brancaccio, Emiliano |
Published in: |
Review of Political Economy. - Taylor & Francis Journals, ISSN 0953-8259. - Vol. 22.2010, 3, p. 405-418
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Publisher: |
Taylor & Francis Journals |
Saved in:
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