The individual and the market: Paul Samuelson on (homothetic) Santa Claus economics.
Paul Samuelson often used the term “Santa Claus economics” for mathematical models with empirically unrealistic assumptions. I focus on one particular member of the Santa Claus family that Samuelson was very sceptical about: homothetic general equilibrium models (where all agents have identical homo...
| Publicado en: | European Journal of the History of Economic Thought Vol. 23; no. 3; pp. 425 - 453 |
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| Formato: | Artículo |
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Taylor & Francis Ltd
Jun2016
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| Acceso en línea: | Ver este registro en EBSCOhost |
| fields | @attributes: recordID: 1 pdfLink: plink: https://search.ebscohost.com/login.aspx?direct=true&db=hlh&AN=114044785&site=ehost-live header: @attributes: shortDbName: hlh uiTerm: 114044785 longDbName: Humanities International Complete uiTag: AN controlInfo: bkinfo: jinfo: jid: 09672567 5B6 jtl: European Journal of the History of Economic Thought issn: 09672567 maglogo: N pubinfo: dt: Jun2016 vid: 23 iid: 3 pid: 377 pub: Taylor & Francis Ltd artinfo: ui: 114044785 10.1080/09672567.2014.916731 ppf: 425 ppct: 28 formats: tig: atl: The individual and the market: Paul Samuelson on (homothetic) Santa Claus economics. aug: au: Hands, D.W. su: Samuelson, Paul A. (Paul Anthony), 1915-2009 Economics -- Terminology Mathematical economics Neoclassical school of economics Economic equilibrium sug: subj: Samuelson, Paul A. (Paul Anthony), 1915-2009 Economics -- Terminology Mathematical economics Neoclassical school of economics Economic equilibrium keyword: demand theory neoclassical synthesis Paul Samuelson representative agent ab: Paul Samuelson often used the term “Santa Claus economics” for mathematical models with empirically unrealistic assumptions. I focus on one particular member of the Santa Claus family that Samuelson was very sceptical about: homothetic general equilibrium models (where all agents have identical homothetic preferences). I argue that Samuelson's concerns about these models provide insights into how he viewed the relationship between the individual and the market, a relationship that has implications for not only his economic theorising, but also his broader political–economic vision. His criticisms are also relevant to some ongoing debates within contemporary economic theory. pubtype: Academic Journal doctype: Article src: R language: English refInfo: copyright: @attributes: flag: Y dt: @attributes: year: 2016 holdings: @attributes: islocal: N |
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