Don Patinkin's PhD Dissertation as the Prehistory of Disequilibrium Theories

Abstract

In the opening sentence of Money, Interest, and Prices, Patinkin noted that his book was the outgrowth of ideas first presented in his doctoral dissertation. This claim has attracted the attention of most scholars who have written about his works in recent years. As shown by articles by such historians as Mauro Boianovsky, Perry Mehrling, and the present author, reading Patinkin's doctoral dissertation shed new light on his major work. However, those articles only contain partial presentations of the thesis. This essay helps to fill that gap. It offers a detailed presentation of the second part of Patinkin's dissertation and claims that it foreshadowed the research programs of disequilibrium theorists of the 1970s.

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