TY  - JOUR
AB  - 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.
VL  - 24
IS  - 4
SN  - 0144-3585
DO  - 10.1108/01443589710188984
UR  - https://doi.org/10.1108/01443589710188984
AU  - Cross Rod
PY  - 1997
Y1  - 1997/01/01
TI  - Force fields, hysteresis and economic equilibria
T2  - Journal of Economic Studies
PB  - MCB UP Ltd
SP  - 257
EP  - 266
Y2  - 2024/09/20
ER  -