Transition to the Market and Economic Theory
What does economic theory offer us today? Unfortunately, very little. The political economy of socialism, which is based on Marx's teachings, is entirely inapplicable to the problems that arise in the present stage of development. And economic science in the West, especially in America, is mathematized formalism based on the paradigm of general equilibrium. It is difficult, and more often impossible, to apply it to these problems. I find it altogether impossible to understand how one can dynamize equilibriumâa concept that by definition does not include reasons for changing the given situation, otherwise this would not be equilibrium.
Year of publication: |
1993
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Authors: | Nove, Alec |
Published in: |
Problems of Economic Transition. - M.E. Sharpe, Inc., ISSN 1061-1991. - Vol. 35.1993, 9, p. 20-33
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Publisher: |
M.E. Sharpe, Inc. |
Saved in:
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