Dilemmas in Economic Theory : Persisting Foundational Problems of Microeconomics

This book compares the economic theory of the early neoclassical economists with the theory of value of the post-World War II period, and in particular the Arrow-Debreu model of general equilibrium. It argues that many of the difficult problems faced in the early parts of the century that led in many cases to revolutions in the 1930s and 40s have not been successfully resolved by later theoretical work.