Marshall’s partial equilibrium analysis is conceptually divergent from general equilibrium theory, as it strictly mimics the way Darwinian evolution works, looking for localized adjustments of evolving systems. The prototype of this concept is to be found in Marshall’s early model of the human mind: ‘Ye machine’ adapts to environmental change by readjusting the inner segment that is no longer viable, while all the remaining parts of its structure proceed as usual. If partial equilibrium analysis explains how the system reacts to exogenous change, from the wider perspective of social and economic evolution what really matters are the more profound modifications that accumulate over time, especially in character building.
The general pattern of Marshallian evolution
RAFFAELLI, TIZIANO
2008-01-01
Abstract
Marshall’s partial equilibrium analysis is conceptually divergent from general equilibrium theory, as it strictly mimics the way Darwinian evolution works, looking for localized adjustments of evolving systems. The prototype of this concept is to be found in Marshall’s early model of the human mind: ‘Ye machine’ adapts to environmental change by readjusting the inner segment that is no longer viable, while all the remaining parts of its structure proceed as usual. If partial equilibrium analysis explains how the system reacts to exogenous change, from the wider perspective of social and economic evolution what really matters are the more profound modifications that accumulate over time, especially in character building.I documenti in IRIS sono protetti da copyright e tutti i diritti sono riservati, salvo diversa indicazione.
