Professor John Hall
Journal of Economic Literature Classification Codes
B31, F02, N42
Gunnar Myrdal, Non-Equilibrium, Racial Inequality, Regional Inequality
This inquiry seeks to establish that Gunnar Myrdal provided a foundation for and also practiced a non-equilibrium approach to economics. Throughout his career, Gunnar Myrdal was tasked with researching and providing policy for some of the most pressing economic issues of the 20th century. This inquiry considers and examines what I have selected as the most important areas of research over the span of Myrdal’s career, while showing how and why a nonequilibrium was required. First, I start with racial inequality and how Myrdal’s research broke ground on the subject. Next, I consider his key contribution towards understanding regional inequality and how this work takes him far from equilibrium economics. Finally, I consider the importance of selected issues in world development, juxtapose these to Myrdal’s career that spanned decades.
Kendall, Leo. "A Non-Equilibrium Approach to Economics: Towards an Intellectual Biography of Gunnar Myrdal, Working Paper No. 8", Portland State University Economics Working Papers. 8. (15 March 2018) i + 14 pages.