Force fields, hysteresis and economic equilibria

Rod Cross (University of Strathclyde, Glasgow, UK)

Journal of Economic Studies

ISSN: 0144-3585

Publication date: 1 August 1997


Looks at the relevance to economic systems of force field equilibrium metaphors. Points out that the force field view of physical reality developed in nineteenth century physics does not necessarily involve homeostasis and reversible time paths. Illustrates the properties of force fields with hysteresis, providing a counter example. Discusses precedents for viewing economic systems as having equilibria haunted by hysteresis, and summarizes and illustrates the implications of applying such an analytical framework to economic systems.



Cross, R. (1997), "Force fields, hysteresis and economic equilibria", Journal of Economic Studies, Vol. 24 No. 4, pp. 257-266.

Download as .RIS




Copyright © 1997, MCB UP Limited

Please note you might not have access to this content

You may be able to access this content by login via Shibboleth, Open Athens or with your Emerald account.
If you would like to contact us about accessing this content, click the button and fill out the form.
To rent this content from Deepdyve, please click the button.