By Gunther Patzig
Read or Download Aristoteles' Politik: Akten des XI. Symposium Aristotelicum Friedrichshafen/Bodensee 25. August - 03. September 1987 (Arbeiten Zur Kirchlichen Zeitgeschichte - Reihe B) PDF
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Extra resources for Aristoteles' Politik: Akten des XI. Symposium Aristotelicum Friedrichshafen/Bodensee 25. August - 03. September 1987 (Arbeiten Zur Kirchlichen Zeitgeschichte - Reihe B)
Not only that the proof is not obtained yet, but by the Sonnenschein-Mantel-Debreu theorem it became hopeless to obtain such a proof at least in the general case. Non-virtual tatonnement process, sometimes called non-Walrassian process has been proposed. Some succeeded to show that the tatonnement converges to an equilibrium point, but unfortunately this equilibrium has no relation to the original equilibrium and by consequence it did not help very much to justify the GET. According to the GET, the equilibrium exists but we do not know how the market approaches to an equilibrium point and why we should select it as a reference state to analyze the market.
Now we are at the beginning of new stage of economics. We have finally found a new 44 tool of analysis which may substitute mathematics as a main tool of economic analysis. Powered with this new tool the third period of economics is now opening.
Although this process bears a similarity to that formalized in situation theory (Barwise 1989; Devlin 1991), its very fluidity makes it difficult to model. However, a quasi-formalism, articulated in ancient China, comes close to capturing the dynamics: Chinese ethical thinking . . follows an implicit logical form approximating to [a] syllogism, applicable directly to concrete situations. In awareness from all viewpoints, spatial, temporal, [social], and personal, of everything relevant to the issue, I find myself moved toward X; overlooking something relevant I find myself moved toward Y.