Tuesday, June 07, 2011

I'm In Disequilibrium

an equilibrium situation is one in which individual plans are fully coordinated. Each plan can be successfully executed. Means are exactly matched to ends. (Peter Lewin, Capital In Disequilibrium)

If this is the definition of equilibrium (which he derives from Hayek's definition), then I have never once found myself in a situation one could define as equilibrium.
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