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- W569469261 abstract "Irreversibility is a characteristic of evolutionary systems that has been largely ignored by traditional economics. Neoclassical economics, based on mechanical analogies, sees economic processes as being reversible. In the simple model of supply and demand, for example, an increase in the quantity demanded will call forth a larger supply. If demand returns to the initial level, the supply curve will shift back to the original position, returning the whole system to its initial state. Marshall, on the other hand, recognized the irreversibility of the long-run supply curve:" @default.
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- W569469261 date "1983-07-01" @default.
- W569469261 modified "2023-09-25" @default.
- W569469261 title "Biological Analogies in Economics: A Comment" @default.
- W569469261 cites W4301267015 @default.
- W569469261 doi "https://doi.org/10.1080/01603477.1983.11489405" @default.
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