Wicksell on harmony economics
The Lausanne school vs. Wicksell
Bibliographic Data
| ID | 20378951 |
|---|---|
| Authors | Lars Pålsson Syll (corresponding author) |
| Year | 1993 |
| Volume | 41 |
| Issue | 2 |
| Pages | 172-188 |
| Publication date | 1993-05-01 |
| Open Access | No |
| Type | ARTICLE |
| Venue | Scandinavian Economic History Review (JOURNAL) |
| Journal identifiers | ISSN: 0358-5522 • E-ISSN: 1750-2837 |
| Publisher | Informa UK Limited (PUBLISHER • GB) |
| DOI | 10.1080/03585522.1993.10415866 |
| OpenAlex | W1985990343 |
| Language | EN |
| Citations received | 3 |
| References cited | 2 |
The demand for profitability and social welfare are not identical. If they were, the economy would be in harmony. To Knut Wicksell it was obvious that this was not the case. Although in principle positive towards the market economy and free competition, he never closed his eyes to the fact that competitive equilibrium was not a social optimum. When Walras and Pareto ascribed to the market economy the property of giving a maximum of social utility, Wicksell therefore felt he had to react. This essay depicts the evolution of Wicksell's critique of the Lausanne School version of harmony economics. It will be shown that their difference of views to a large extent hinged on contrary views of the possibilities of making interpersonal comparisons of utility and dissimilar general social and political philosophies
Economics · Market economy · Microeconomics · Neoclassical economics · Pareto principle · Profitability index · Welfare · Economic Theory and Institutions · Political Economy and Marxism
| Citations per year | 0.11 |
|---|---|
| Citation span | 1998 - 2016 (19) |
| Highly cited | No |