The incomplete Schumpeter Stockholm School connection

Gunnar Eliasson ()

Journal of Evolutionary Economics, 2015, vol. 25, issue 1, 45-56

Abstract: During the early post WWII years Walrasian minded static equilibrium economists managed to disconnect a promising merge of Schumpeterian and Swedish School economics, and for decades more or less block the development of evolutionary dynamics. This paper is a fresh start of what should then have been done. I link my discussion to Loasby’s ( 1998 ) two forms of coordination failure of; (1) failure of economists to model the coordination of an economy “out of equilibrium” and (2) failure of economists of competing schools to understand and benefit from each other. I find that 2 may explain 1. Copyright Springer-Verlag Berlin Heidelberg 2015

Keywords: Economic coordination; Economic mistakes; Evolutionary economics; Ex ante/Ex post; Experimentally organized economy; Ignorance; Information economics; Micro based macro modeling; B00; D20; D40; D50; D80; L16; M13 (search for similar items in EconPapers)
Date: 2015
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Citations: View citations in EconPapers (3)

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DOI: 10.1007/s00191-014-0372-6

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