History versus Equilibrium: Nicholas Kaldor on Historical Time and Economic Theory

Mark Setterfield

Cambridge Journal of Economics, 1998, vol. 22, issue 5, 521-37

Abstract: Nicholas Kaldor's biographers portray his intellectual development as a linear progression, away from conventional equilibrium methodology and towards an emphasis on history as the organizing concept for economic analysis. This paper contends, however, that the methodology advocated in Kaldor's later work is explicit in one of his earliest papers, 'A Classificatory Note on the Determinateness of Equilibrium,' published in 1934. Indeed, Kaldor's conception of the nature of path dependency in the 1930s is more sophisticated than that found in his later work. Emphasis is placed on the lessons for current research into path dependency that can be learned from the study of Kaldor's intellectual development. Copyright 1998 by Oxford University Press.

Date: 1998
References: Add references at CitEc
Citations: View citations in EconPapers (12)

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:oup:cambje:v:22:y:1998:i:5:p:521-37

Ordering information: This journal article can be ordered from
https://academic.oup.com/journals

Access Statistics for this article

Cambridge Journal of Economics is currently edited by Jacqui Lagrue

More articles in Cambridge Journal of Economics from Cambridge Political Economy Society Oxford University Press, Great Clarendon Street, Oxford OX2 6DP, UK.
Bibliographic data for series maintained by Oxford University Press ().