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McCloskey commented in the intro to his intermediate micro text that 
neoclassical analysis was simply gas diffusion theory brought over 
from physics--each atom retains its momentum until influenced--externally-- 
by some force (e.g. relative price changes).  And one can get a lot of 
mileage out of that approach, as long as the atoms (molecules=firms?) 
don't think/act.  But as T. Schultz pointed out, it is in the interest 
of actors to CREATE disequilibirum to de-stablize stability, because 
there are advantages to be gained by doing so.  Thus introduction of 
humans into the equation guarantees that any formalized model will be 
inherently wrong--because someone will be interested in making it wrong! 
 
FC 
 
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Prof. Fred V. Carstensen                   Office: (860) 486-0614 
Department of Economics                    Dept:   (860) 486-3022 
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