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Temporary Equilibrium: Money, Expectations and Dynamics

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Value and Capital: Fifty Years Later

Part of the book series: International Economic Association Series ((IEA))

Abstract

My personal debt toward Value and Capital is important. As a graduate student in maths and physics in Paris in the early 1960s, I had the fortune indeed to come across this great book. By contrast with the few other pieces in economics which I had tried to read before, Value and Capital struck me as proposing a unified and consistent theoretical framework, I should say a research programme, for the study of static as well as dynamic economic systems. It is fair to say that my work is still, some 25 years later, very much influenced by this early intellectual encounter.

Financial support by National Science Foundation Grant SES-87-21872 at the IMSSS, Stanford University during summer 1988, by the Institute for International Economic Studies and the Department of Economics, Stockholm University during spring 1988 are gratefully acknowledged.

I am most grateful to Lionel McKenzie for his very useful comments on an earlier draft.

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Author information

Authors and Affiliations

  1. Cepremap, Paris, France

    Jean-Michel Grandmont

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  1. Jean-Michel Grandmont
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Lionel W. McKenzie Stefano Zamagni

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© 1991 International Economic Association

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Grandmont, JM. (1991). Temporary Equilibrium: Money, Expectations and Dynamics. In: McKenzie, L.W., Zamagni, S. (eds) Value and Capital: Fifty Years Later. International Economic Association Series. Palgrave Macmillan, London. https://doi.org/10.1007/978-1-349-11029-2_1

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