On the Impossibility of Reducing the Surplus Approach to a Neoclassical 'Special Case': A Criticism of Hahn in a Solowian Context

Emiliano Brancaccio

Review of Political Economy, 2010, vol. 22, issue 3, 405-418

Abstract: We propose a new criticism of Frank Hahn's attempt to prove that the surplus approach constitutes no more than a 'special case' of the neoclassical model of intertemporal general equilibrium. In particular, we show that Hahn's 'special case' is vitiated by the paradox of determining the past as a function of the future. In order to make the communication between schools of thought easier, we present our criticism of Hahn within a mathematical framework drawn from the well-known Solow growth model.

Date: 2010
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DOI: 10.1080/09538259.2010.491288

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