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Robert Solow’s Non-Walrasian Conception of Economics
History of Political Economy ( IF 0.511 ) Pub Date : 2020-10-01 , DOI: 10.1215/00182702-8671843
Matthieu Ballandonne , Goulven Rubin

The neoclassical synthesis has been defined as a bridge between Keynesian theory and Walrasian general equilibrium theory. The aim of this article is to show that founders of the neoclassical synthesis were not homogenous in their appraisal of the importance of Walrasian theory. To do so, we focus on Robert Solow’s contributions as a case study and examine the history of his lifelong criticism of what he called “axiomatics.” According to Solow, the axiomatic approach aims at founding economics on one general and complex model based on first principles or axioms. In contrast, Solow advocated the use of a diversity of simple and partial models, which have practical utility, are realistic in their crucial assumptions, consider institutions and the evolving nature of the economy, and rely on common sense microfoundations. We conclude by suggesting that Solow can be characterized as Cournotian.

中文翻译:

罗伯特索洛的非瓦尔拉斯经济学概念

新古典综合被定义为凯恩斯理论和瓦尔拉斯一般均衡理论之间的桥梁。本文的目的是表明,新古典综合的创始人在评价瓦尔拉斯理论的重要性时并不是同质的。为此,我们将罗伯特·索洛的贡献作为案例研究,并考察他对他所谓的“公理学”的终生批评的历史。根据索洛的说法,公理化方法旨在将经济学建立在一个基于第一原理或公理的一般复杂模型上。相比之下,索洛主张使用多种简单和部分模型,这些模型具有实际效用,在其关键假设中是现实的,考虑了制度和经济的演变性质,并依赖于常识微观基础。
更新日期:2020-10-01
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