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Da Empoli’s theory of equilibrium in retrospect

Gerrit Meijer (Department of Economics, Maastricht University, Maastricht, The Netherlands)

Journal of Economic Studies

ISSN: 0144-3585

Article publication date: 1 August 2001

640

Abstract

Tries to assess the place of Da Empoli’s Theory of Economic Equilibrium, a book on the development of thinking on market structures and price theory. It is an early and important, though almost neglected, contribution. Neglected because the main developments in the 1930s and later on were on market classifications and theories of pricing within these market structures, as developed by Chamberlin, Robinson, Stackelberg, Triffin, and de Jong. Chamberlin and Robinson who knew the study either did not pay attention to and/or did not understand the true nature of the work. The approach was too different from theirs. Da Empoli’s work is on the process of competition. In this he has affinity to work of Knight and Clark written in the 1920s. This approach had some later defenders in the 1940s in Clark, Eucken and Hayek. Around 1960 it got a more prominent place in the work of Clark, Hayek, de Jong and Stigler. At almost the same time the other approach petered out, casu quo came to a close.

Keywords

Citation

Meijer, G. (2001), "Da Empoli’s theory of equilibrium in retrospect", Journal of Economic Studies, Vol. 28 No. 4/5, pp. 359-368. https://doi.org/10.1108/EUM0000000005950

Publisher

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MCB UP Ltd

Copyright © 2001, MCB UP Limited

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