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Classical General Equilibrium Theory Paperback – September 1, 2002


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Editorial Reviews

Review

A beautifully written, integrated treatment of the main topics in microeconomics, this book takes the reader from first principles to the cutting edge of theory today. It is, and will remain, a classic work.

(Jerry Green, John Leverett Professor in the University and David A. Wells Professor of Political Economy, Harvard University)

McKenzie is one of the great innovators in the field of general equilibrium theory; his was the first paper published establishing the existence of general equilibrium. His new book is a tour de force of synthesis, presenting with admirable clarity and rigor the important results in the field. Indeed, he goes beyond the field to discuss such issues as turnpike theorems and optimal capital accumulation, to whose development he has contributed so much.

(Kenneth J. Arrow, Professor of Economics Emeritus, Stanford University)

This book is a masterwork by one of the three founders of the modern field of general equilibrium theory. All economists will want to own this volume. It covers not only classical theory but also the research frontier. It is written with the beauty and clarity that one would expect of a founding father.

(William A. Brock, Vilas Research Professor of Economics, The University of Wisconsin, Madison)

Lionel McKenzie's new monograph is a pleasure to read. Only a major contributor to economic theory could teach general equilibrium theory with such clarity and authority. The book is gracefully written and rigorous, and does an elegant job of situating competitive equilibrium theory in the economic and mathematical traditions from which it evolved.

(Robert E. Lucas, Jr., John Dewey Distinguished Service Professor, University of Chicago)

This book is a masterwork by one of the three founders of the modern field of general equilibrium theory. All economists will want to own this volume. It covers not only classical theory but also the research frontier. It is written with the beauty and clarity that one would expect of a founding father.

(William A. Brock, Vilas Research Professor of Economics, The University of Wisconsin, Madison)

This book is itself a modern classic. It summarizes deftly, succinctly, and elegantly four decades of vintage frontier findings by two score top academics. McKenzie himself is first among equals in this stellar group.

(Paul A. Samuelson, Institute Professor Emeritus, MIT, and Nobel Laureate in Economics (1970))

Over a period of fifty years McKenzie has pioneered, organized, and taught general equilibrium. This volume, by a master of the subject, serves as an indispensable guide to rigorous general equilibrium. The serious reader will be amply rewarded.

(Hugo Sonnenschein, Charles L. Hutchinson Distinguished Service Professor and President Emeritus, University of Chicago)

About the Author

The late Lionel W. McKenzie was Wilson Professor Emeritus of Economics at the University of Rochester.
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