13 February 2020

On Equilibrium (1950-1959)

"Now a system is said to be at equilibrium when it has no further tendency to change its properties." (Walter J Moore, "Physical chemistry", 1950)

"Physical irreversibility manifests itself in the fact that, whenever the system is in a state far removed from equilibrium, it is much more likely to move toward equilibrium, than in the opposite direction." (William Feller, "An Introduction To Probability Theory And Its Applications", 1950)

"Equilibrium requires that the whole of the structure, the form of its elements, and the means of interconnection be so combined that at the supports there will automatically be produced passive forces or reactions that are able to balance the forces acting upon the structures, including the force of its own weight."  (Eduardo Torroja, "Philosophy of Structure", 1951) 

"[…] there are three different but interconnected conceptions to be considered in every structure, and in every structural element involved: equilibrium, resistance, and stability." (Eduardo Torroja, "Philosophy of Structure" , 1951) 

"Business-cycle theorists concerned themselves with why the economy naturally generated fluctuations in employment and output, [while the rest of the profession] continued to operate on the assumption that full employment was the natural, equilibrium position for the economy." (Robert A Gordon, "Business Fluctuations", 1952)

"Biological communities are systems of interacting components and thus display characteristic properties of systems, such as mutual interdependence, self-regulation, adaptation to disturbances, approach to states of equilibrium, etc." (Ludwig von Bertalanffy, "Problems of Life", 1952)

"Every stable system has the property that if displaced from a state of equilibrium and released, the subsequent movement is so matched to the initial displacement that the system is brought back to the state of equilibrium. A variety of disturbances will therefore evoke a variety of matched reactions." (W Ross Ashby, "Design for a Brain: The Origin of Adaptive Behavior", 1952)

"The primary fact is that all isolated state-determined dynamic systems are selective: from whatever state they have initially, they go towards states of equilibrium. These states of equilibrium are always characterised, in their relation to the change-inducing laws of the system, by being exceptionally resistant." (W Ross Ashby, "Design for a Brain: The Origin of Adaptive Behavior", 1952)

"Multiple equilibria are not necessarily useless, but from the standpoint of any exact science the existence of a uniquely determined equilibrium is, of course, of the utmost importance, even if proof has to be purchased at the price of very restrictive assumptions; without any possibility of proving the existence of (a) uniquely determined equilibrium - or at all events, of a small number of possible equilibria - at however high a level of abstraction, a field of phenomena is really a chaos that is not under analytical control." (Joseph A Schumpeter, "History of Economic Analysis", 1954)

"Perhaps as important is the relation between the existence of solutions to a competitive equilibrium and the problems of normative or welfare economics." (Kenneth J Arrow & Gerard Debreu. "Existence of an equilibrium for a competitive economy", Econometrica: Journal of the Econometric Society, 1954)

"As shorthand, when the phenomena are suitably simple, words such as equilibrium and stability are of great value and convenience. Nevertheless, it should be always borne in mind that they are mere shorthand, and that the phenomena will not always have the simplicity that these words presuppose." (W Ross Ashby, "An Introduction to Cybernetics", 1956)

"Reversible processes are not, in fact, processes at all, they are sequences of states of equilibrium. The processes which we encounter in real life are always irreversible processes." (Arnold Sommerfeld, "Thermodynamics and Statistical Mechanics", Lectures on Theoretical - Physics Vol. V, 1956)

"Thus, if the whole is at a state of equilibrium, each part must be in a state of equilibrium in the conditions provided by the other. [...] the whole is at a state of equilibrium if and only if each part is at a state of equilibrium in the conditions provided by the other part. [...] No state (of the whole) can be a state of equilibrium unless it is acceptable to every one of the component parts, each acting in the conditions given by the others." (W Ross Ashby, "An Introduction to Cybernetics", 1956)

"It is clear to all that the animal organism is a highly complex system consisting of an almost infinite series of parts connected both with one another and, as a total complex, with the surrounding world, with which it is in a state of equilibrium. (Ivan P Pavlov, "Experimental psychology, and other essays", 1957)

"[Equilibrium] is a notion which can be employed usefully in varying degrees of looseness. It is an absolutely indispensable part of the toolbag of the economist and one which he can often contribute usefully to other sciences which are occasionally apt to get lost in the trackless exfoliations of purely dynamic systems." (Kenneth Boulding, The Skills of the Economist", Journal of Political Economy 67 (1), 1959)

"One of the most important skills of the economist, therefore, is that of simplification of the model." (Kenneth Boulding, "The Skills of the Economist", Journal of Political Economy 67 (1), 1959)

"The ability to work with systems of general equilibrium is perhaps one of the most important skills of the economist - a skill which he shares with many other scientists, but in which he has perhaps a certain comparative advantage." (Kenneth Boulding, "The Skills of the Economist", Journal of Political Economy 67 (1), 1959)

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