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Sat, 31 Oct 2009 12:52:26 -0400 |
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Dear Friends
I am researching Leon Walras's aspiration to
produce a theory of economics whose stability
properties would be like the stability of planetary orbits.
In 'The Idol of Stability' (1997-98 Tanner
Lectures) Stephen Toulmin writes
[http://www.tannerlectures.utah.edu/lectures/documents/Toulmin99.pdf]:
"During his last ten years, he [Walras] kept
writing to Poincaré, hoping to win the great
mathematician’s approval for a parallel he
thought he had established, between the laws of
economic equilibrium and those that supposedly
ensured the stability of the planets: Walras’s
last paper, in fact, was entitled Economique et
mecanique. By this time, Poincaré himself, of
course, no longer believed that the planetary
orbits had any essential stability"
Jolink and van Daal (1989) in an article in the
HES bulletin 11:1, reference published versions
of this lecture in French and in Metroeconomica vol 12 No. 1, 1960.
Does anybody know if either the French or English
version of this lecture are available in an open
access form or simply on line, and also whether
there are other relevant places where Walras
specifically invokes planetary stability as a
desirable property of a mechanical system, which
economic theory should emulate?
Regards
Alan Freeman
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