Abstract
The main thread of economic theory is now taken up again : static and dynamic models of general scope. Economic equilibrium is defined broadly in Chapter 10 and in very special form in Chapter 11 ; these apparently divergent lines of approach need to be pulled together. The Walrasian system of Chapter 10 allows for all possible inter-relations in what Robbins (1932) has described as the economic problem : the use of limited resources to obtain certain economic objectives. All this is far too general. Even with the ingenuity of Hicks or Samuelson, few results of empirical content can be derived. It is true that a count of equations shows that solutions are possible—but not that they exist, at least with non-negative prices and quantities.
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© 1959 R. G. D. Allen
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Allen, R.G.D. (1959). Programming of Activities; Allocation of Resources. In: Mathematical Economics. Palgrave Macmillan, London. https://doi.org/10.1007/978-1-349-81547-0_17
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