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The incomplete Schumpeter Stockholm School connection
KTH, School of Industrial Engineering and Management (ITM), Industrial Economics and Management (Dept.).
2015 (English)In: Journal of evolutionary economics, ISSN 0936-9937, E-ISSN 1432-1386, Vol. 25, no 1, 45-56 p.Article in journal (Refereed) Published
Abstract [en]

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.

Place, publisher, year, edition, pages
2015. Vol. 25, no 1, 45-56 p.
Keyword [en]
Economic coordination, Economic mistakes, Evolutionary economics, Ex ante/Ex post, Experimentally organized economy, Ignorance, Information economics, Micro based macro modeling
National Category
Economics and Business
Identifiers
URN: urn:nbn:se:kth:diva-166363DOI: 10.1007/s00191-014-0372-6ISI: 000352682500005Scopus ID: 2-s2.0-84991038749OAI: oai:DiVA.org:kth-166363DiVA: diva2:810596
Note

QC 20150507

Available from: 2015-05-07 Created: 2015-05-07 Last updated: 2017-12-04Bibliographically approved

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  • Other locale
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