Microfoundations of Evolutionary Economics by Yoshinori Shiozawa & Masashi Morioka & Kazuhisa Taniguchi

Author:Yoshinori Shiozawa & Masashi Morioka & Kazuhisa Taniguchi
Language: eng
Format: epub
ISBN: 9784431552673
Publisher: Springer Japan

15To be more precise, the theorem receded into the background and became seldom mentioned even in advanced microeconomics textbooks. Petri (2016, p. 18) reported that he could find no mention after 1995.

16For more detailed account of the treatment of the non-substitution theorem by neoclassical economists, see Petri (2016) although I think that “long-period framework” did not help him to clarify the question. All stories should be retold in a framework of process (or sequential period) analysis.

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