New study challenges traditional economic theories, paving way for new policies.
The article discusses two important economic theories: general equilibrium theory (GET) and disequilibrium theory (DET). The researchers use a new structuralist view to analyze these theories. GET focuses on a balanced economy, while DET looks at situations where the economy is not in balance, like underemployment. These theories are crucial in shaping economic policies. The study suggests that GET and DET play a central role in economic theorizing, even more so than other theories like Marxian economics and game theory.