Hayek's Four Tendencies Toward EquilibriumCultural Dynamics (1990)
AbstractF.A. Hayek uses the concepts of "equilibrium" and the "tendency toward equilibrium" in a number of senses that are subtly, but importantly, different from each other. This article elucidates those differences and puts them in the context of his theoretical work. As far as I know, this is still the only article that undertakes this analysis.
- compatibility of plans,
- economic processes
Citation InformationMario J Rizzo. "Hayek's Four Tendencies Toward Equilibrium" Cultural Dynamics Vol. 3 Iss. 1 (1990)
Available at: http://works.bepress.com/mario_rizzo/18/