Hicks on Temporary Equilibrium | Uneasy Money
J. R. Hicks, who introduced the concept of intertemporal equilibrium to English-speaking economists in Value and Capital, was an admirer of Carl Menger, one of the three original Marginal Revolutionaries, crediting Menger in particular for having created an economic theory in time (see his "Time in Economics" in Collected Essays on Economic Theory, vol. II).…