Confusion over equilibrium and disequilibrium stifles economic theory progress.
The article discusses the confusion surrounding the concepts of equilibrium and disequilibrium in economic theory. Different economists have different interpretations of these terms, leading to debates that lack clarity. For example, what one economist sees as equilibrium, another may see as disequilibrium. This lack of clear definitions hinders constructive debates among economic theories. To move forward, it is crucial to define these concepts clearly and understand how they relate to each other.