Freeman, Alan (2006): Die Himmel über uns: Über die Bedeutung des Gleichgewichts für die Wirtschaftswissenschaft. Published in: EXIT! Krise und Kritik der Warengesellschaft No. 3 (2006): pp. 212-241.
Download (221kB) | Preview
This article was published in Freeman, Alan (2006): Die Himmel über uns. Über die Bedeutung des Gleichgewichts für die Wirtschaftswissenschaft, EXIT! Krise und Kritik der Warengesellschaft 3, 212-241
It is the German translation of an chapter originally published in Mosini, V (ed) (2007) Equilibrium in Economics: Scope and Limits. London: Routledge ISBN 0415391377 It was entitled ‘Heavens above: what equilibrium means for economics’, and appeared on pp240-260.
The book was devoted to a dialogue between the natural and the social sciences on the concept of equilibrium, arising from a series of seminars organised by the Centre for the Political and Natural Sciences by Valeria Mosini, in 2006. In this article I suggest how a natural scientist can understand the use which economics makes of the word ‘equilibrium’. I argue that a simple concept, unexceptionable for the study of many physical phenomena, has been transformed into something completely different. If, therefore, we naively expect to find it applied in economics in the same way as ‘energy’ in physics or ‘molecule’ in chemistry, as a means of describing and explaining what an impartial observer may independently verify, we will misunderstand its real significance. My basic thesis is that the educated public makes a mistake in accepting, at face value, the claim that economics conducts itself as a science. I will argue that, as at present practiced, it conducts itself as a religion. I argue that the concept of equilibrium is the organising principle of this religion.
|Item Type:||MPRA Paper|
|Institution:||The University of Greenwich|
|Original Title:||Die Himmel über uns: Über die Bedeutung des Gleichgewichts für die Wirtschaftswissenschaft|
|Keywords:||Value, Price, Money, Labour, Marx, MELT, Okishio, TSSI, temporalism, rate of profit|
|Subjects:||B - History of Economic Thought, Methodology, and Heterodox Approaches > B5 - Current Heterodox Approaches
B - History of Economic Thought, Methodology, and Heterodox Approaches > B5 - Current Heterodox Approaches > B51 - Socialist; Marxian; Sraffian
B - History of Economic Thought, Methodology, and Heterodox Approaches > B1 - History of Economic Thought through 1925 > B14 - Socialist; Marxist
B - History of Economic Thought, Methodology, and Heterodox Approaches > B4 - Economic Methodology
B - History of Economic Thought, Methodology, and Heterodox Approaches > B3 - History of Economic Thought: Individuals > B31 - Individuals
B - History of Economic Thought, Methodology, and Heterodox Approaches > B1 - History of Economic Thought through 1925 > B12 - Classical (includes Adam Smith)
|Depositing User:||Alan Freeman|
|Date Deposited:||27. Jan 2008 15:07|
|Last Modified:||12. Feb 2013 18:22|
Barbour, Ian G (1990). Religion in an age of science, London: SCM. Brenner, R. (1998) ‘The Economics of Global Turbulence,’ New Left Review, Vol. 229, pp. 1-264. Chamberlain (2003) The Bad Popes, Sutton Publishing. Copernicus, N (1543) De revolutionibus orbium coelestium, published in English translation at <http://webexhibits.org/calendars/year-text-Copernicus.html> (accessed 23/2/2006) Davidson, P. (1991) Controversies in Post-Keynesian Economics, Aldershot and Vermont: Edward Elgar. Debreu, G (1959), Theory of Value: An Axiomatic Analysis of Economic Equilibrium, New Haven, CT: Yale University Press Drake, S (1980). Galileo.Oxford and New York: OUP. Eatwell, J, Murray Milgate and Peter Newman (1989) General Equilibrium, London and Basingstoke: McMillan. Ekeland, A(2006) ‘Haavelmo – a low key heterodox?’, paper submitted to the 2006 conference of the Association for Heterodox Economics. Fara, P (2002) Newton: The Making of Genius, Basingstoke and Oxford: McMillan Farringdon, B. (1939), Science and Politics in the Ancient World. London: George Allen and Unwin. Freeman (2004) ‘Science, religion and the reform of economics’, presented to the fourth annual conference of the Association of Heterodox Economists, Nottingham, July 2004. Freeman, A. and Guglielmo Carchedi (1995) Marx and Non-Equilibrium Economics, Aldershot and Vermont: Edward Elgar. Freeman, A. Andrew Kliman and Julian Wells (2004) The New Value Theory Controversy in Economics, Aldershot and Vermont: Edward Elgar. Jaffé, W (ed ) (1965) Correspondence of Léon Walras and related papers, Amsterdam: North Holland. Kliman, A and Freeman, A (2000) ‘Two Concepts of Value, Two Rates of Profit, Two Laws of Motion’ in Research in Political Economy 18. Kuhn, T. S. (1962) The Structure of Scientific Revolutions, Chicago and London: University of Chicago Press. Laibman, D. (2004) ‘Rhetoric and Substance in Value Theory: an Appraisal of the New Orthodox Marxism’ in Freeman, Kliman and Wells (eds) 2004, The New Value Controversy in Economics, Aldershot and Vermont: Edward Elgar. Fujita, M., P. Krugman and A. J. Venables (1999). The Spatial Economy: London and Cambridge, Mass: MIT Press Lattis, J (1994) Between Copernicus and Galileo: Christopher Clavius and the Collapse of Ptolemaic Cosmology, Chicago: University of Chicago Press. Manning, A (2003) Monopsony in Motion. Princeton: PUP O’Driscoll, G. and Mario J. Rizzo (1985), The Economics of Time and Ignorance, London and New York: Routledge. Okishio, Nobuo (1961) ‘Technical Changes and the Rate of Profit’, Kobe University Economic Review 7. pp 86-99. Ormerod, P (1994) The Death of Economics, London:Faber and Faber. Patinkin, D (1965) Money, Interest and Prices, New York: Harper and Row Sambursky, P (1987:44) The Physical World of the Greeks, Princeton: Princeton University Press. Samuelson, P and William D Nordhaus (1992) Economics. New York: McGraw-Hill. Sobel, D (1999). Galileo’s Daughter. London and New York: Penguin. Sowell, T (1972) Say's Law, An Historical Analysis, Princeton: Princeton University Press. Sweezy, P.M. (1970) , The Theory of Capitalist Development: Principles of Marxian political cconomy. New York: Modern Reader Paperbacks. Townshend, H. (1937) ‘Liquidity-premium and the theory of value’, Economic Journal, vol. XLVII.