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The incomplete Schumpeter Stockholm School connection

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  • Gunnar Eliasson

Abstract

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. Copyright Springer-Verlag Berlin Heidelberg 2015

Suggested Citation

  • Gunnar Eliasson, 2015. "The incomplete Schumpeter Stockholm School connection," Journal of Evolutionary Economics, Springer, vol. 25(1), pages 45-56, January.
    • Handle: RePEc:spr:joevec:v:25:y:2015:i:1:p:45-56
    DOI: 10.1007/s00191-014-0372-6
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    References listed on IDEAS

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    1. Eliasson, Gunnar, 1977. "Competition and Market Processes in a Simulation Model of the Swedish Economy," American Economic Review, American Economic Association, vol. 67(1), pages 277-281, February.
    2. Eliasson, Gunnar, 1991. "Modeling the experimentally organized economy : Complex dynamics in an empirical micro-macro model of endogenous economic growth," Journal of Economic Behavior & Organization, Elsevier, vol. 16(1-2), pages 153-182, July.
    3. Bent Hansen, 1981. "Unemployment, Keynes, and the Stockholm School," History of Political Economy, Duke University Press, vol. 13(2), pages 256-277, Summer.
    4. Eliasson, Gunnar, 1988. "The Firm as a Competent Team," Working Paper Series 207, Research Institute of Industrial Economics, revised Feb 1990.
    5. Weintraub, E Roy, 1983. "On the Existence of a Competitive Equilibrium: 1930-1954," Journal of Economic Literature, American Economic Association, vol. 21(1), pages 1-39, March.
    6. Israel M. Kirzner, 1997. "Entrepreneurial Discovery and the Competitive Market Process: An Austrian Approach," Journal of Economic Literature, American Economic Association, vol. 35(1), pages 60-85, March.
    7. Eliasson, Gunnar, 1990. "The firm as a competent team," Journal of Economic Behavior & Organization, Elsevier, vol. 13(3), pages 275-298, June.
    8. repec:bla:scandj:v:87:y:1985:i:4:p:577-93 is not listed on IDEAS
    9. Gunnar Eliasson & Åsa Eliasson, 2005. "The theory of the firm and the markets for strategic acquisitions," Springer Books, in: Uwe Cantner & Elias Dinopoulos & Robert F. Lanzillotti (ed.), Entrepreneurships, the New Economy and Public Policy, pages 91-115, Springer.
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    Cited by:

    1. Bo Carlsson & Gunnar Eliasson & Karolin Sjöö, 2018. "The Swedish industrial support program of the 1970s revisited," Journal of Evolutionary Economics, Springer, vol. 28(4), pages 805-835, September.
    2. Eliasson, Gunnar, 2023. "Bringing markets back into economics," Journal of Economic Behavior & Organization, Elsevier, vol. 216(C), pages 686-710.
    3. Gunnar Eliasson, 2018. "Why Complex, Data Demanding and Difficult to Estimate Agent Based Models? Lessons from a Decades Long Research Program," International Journal of Microsimulation, International Microsimulation Association, vol. 11(1), pages 4-60.

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    More about this item

    Keywords

    Economic coordination; Economic mistakes; Evolutionary economics; Ex ante/Ex post; Experimentally organized economy; Ignorance; Information economics; Micro based macro modeling; B00; D20; D40; D50; D80; L16; M13;
    All these keywords.

    JEL classification:

    • B00 - Schools of Economic Thought and Methodology - - General - - - History of Economic Thought, Methodology, and Heterodox Approaches
    • D20 - Microeconomics - - Production and Organizations - - - General
    • D40 - Microeconomics - - Market Structure, Pricing, and Design - - - General
    • D50 - Microeconomics - - General Equilibrium and Disequilibrium - - - General
    • D80 - Microeconomics - - Information, Knowledge, and Uncertainty - - - General
    • L16 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Industrial Organization and Macroeconomics; Macroeconomic Industrial Structure
    • M13 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - New Firms; Startups

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