The incomplete Schumpeter Stockholm School connection

• 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.

Subject headings

SAMHÄLLSVETENSKAP  -- Ekonomi och näringsliv (hsv//swe)

SOCIAL SCIENCES  -- Economics and Business (hsv//eng)

Keyword

Economic coordination

Economic mistakes

Evolutionary economics

Ex ante/Ex post

Experimentally organized economy

Ignorance

Information economics

Micro based macro modeling

Publication and Content Type

ref (subject category)

art (subject category)