Alan
----
The thing that has to be solved to take political economy forward, in
my view, is exactly *how* to write down an explicitly disequilibrium
model.
I think this is the most difficult and challenging problem we face.
Paul
----
I would suggest that since explicitly disequilibrium models are
analytically intractable, they have been unpopular so long as
our techniques of model building have been primarily algebraic.
Disequilibrium models are better studied by experiment, building
computer models of them. The difficulty here is to get reproducible
results. Quite appart from their horrendous instability, how does
one make comparisons between different models developed
independently?