Re: [OPE-L] statistical and mechanical equilibrium

From: Rakesh Bhandari (bhandari@BERKELEY.EDU)
Date: Fri Apr 20 2007 - 18:55:42 EDT

>As I noted in a previous post (e.g. Friday 11 november 2005), numerous
>different notions of equilibrium can be entertained, depending on what the
>things are that are being equilibrated or balanced out. Any notion of
>equilibrium is meaningless, unless we can specify what is being

Agreed. Just saw Murray Milgate's entry on equilibrium in the
Palgrave which he edited. Will have to copy it later.

Equilibrium as supply and demand balance, as absence of internal or
spontaneous source of change, as the outcome position towards which
the system moves (eg equalized returns for capital, labor and land)
or a stable centre of gravity around which price moves--these are
themselves quite different meanings of equilibrium and each of them
has multiple meanings too.

Which aspects of equilibrium does Marx accept, if any? We of course
need clarity here.


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