Mining improbable postulates and the theory of diverting toys(Advances in General Equilibrium Theory) Donald A. Walker Edward Elgar, 1997, 165 pp

David Hoaas

Atlantic Economic Journal, 2000, vol. 28, issue 1, 104-113

Abstract: Walker's Advances in General Equilibrium Theory summarizes his position on the usefulness and appropriateness of much of modern general equilibrium modeling. He argues that much of modern general equilibrium modeling does not have the objective of explaining the real economy. His comments concerning general equilibrium theory are easily seen to be related to his study of Walras. In his text, Walker is critical of the general equilibrium theorizing of a number of well-known economists. He spends the majority of the book tearing down general equilibrium theory and models as they are presented in literature. He concludes his book by summarizing his opinion about how realistic models of the economy should be structured. Copyright International Atlantic Economic Society 2000

Date: 2000
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DOI: 10.1007/BF02300535

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