Solution-Central theoretical framework

Central theoretical framework

Reference no: EM132444999

Roger Backhouse has written that "In the 1940s and 1950s general equilibrium theory (also termed competitive equilibrium theory) became seen as the central theoretical framework around which economics was based." What is the basis for this claim? Are there sufficient grounds for arguing that, at the end of the 20th century, general equilibrium theory is still seen as the central theoretical core around which economics is based? Explain.

Reference no: EM132444999

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Central theoretical framework

Reference no: EM132444999

Reference no: EM132444999

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