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Articles and analyses from the INET community on the key economic questions of our time.

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General Equilibrium Theory: Sound and Fury, Signifying Nothing?

Aug 16, 2016

Does general equilibrium theory sufficiently enhance our understanding of the economic process to make the entire exercise worthwhile, if we consider that other forms of thinking may have been ‘crowded out’ as a result of its being the ‘dominant discourse’? What, in the end, have we really learned from it?