 Patinkin, Walras and the 'money-in-the-utility-function' traditionPascal Bridel The European Journal of the History of Economic Thought, 2002, vol. 9, issue 2, 268-292 Abstract: This paper concentrates on Patinkin's use of Walras' model in his attempt at providing a proper theory of the price of money integrated with the theory of relative prices. Patinkin stands as the last major contributor to a Walras-Hicks-Patinkin tradition based on an attempt at introducing money into the agent's utility function. More in Hicks than in Walras' footsteps, Patinkin gives a clear priority to money as a store of value over an assumed function as a means of exchange. It is also shown how confident the profession was in the early 1950s in the ability of general equilibrium to provide theoretical foundations to the neo-classical synthesis. However, the similitudes between the technique used by Walras and Patinkin are only a smokescreen behind which very different intentions are hidden. Keywords: General Equilibrium; Walras; Patinkin; Money In The Utility Function (search for similar items in EconPapers) Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:taf:eujhet:v:9:y:2002:i:2:p:268-292 Ordering information: This journal article can be ordered from DOI: 10.1080/09672560210130710 Access Statistics for this article The European Journal of the History of Economic Thought is currently edited by Richard Sturn, Hans Michael Trautwein, Muriel Dal-Pont-Legrand and Maxime Desmarais-Tremblay More articles in The European Journal of the History of Economic Thought from Taylor & Francis Journals |
Is your work missing from RePEc? Here is how to contribute.
Questions or problems? Check the EconPapers FAQ or send mail to .
EconPapers is hosted by the
School of Business at Örebro University.