Debate on the ERE and Equilibrium

This is a debate that took place between me and my good friend and many times co-author, Bill Barnett, courtesy of the econ club of Loyola U.

I took what I regard as the mainstream, Misesian, Rothbardian, position: the ERE and Equilibrium are helpful, important but limited constructs in Austrian economics. Bill took what I regard as the Ludwig Lachmanian (Lachmaniacal) position that these concepts are a snare, delusion, fallacy and should be expunged from economics. It is not for nothing that I am widely known (at least in my own mind) as Walter Moderate Block. For, the mainstream neoclassical economists adopt the viewpoint that there is practically nothing else in the dismal science worth discussing apart from equilibrium.

Watch the fur fly, here!

April 12, 2018. Walter Block versus Bill Barnett debate on the ERE and equilibrium


3:37 am on June 2, 2019