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THE PATINKIN CONTROVERSY: A REVIEW
Author(s) -
Mauer Laurence Jay
Publication year - 1966
Publication title -
kyklos
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.766
H-Index - 58
eISSN - 1467-6435
pISSN - 0023-5962
DOI - 10.1111/j.1467-6435.1966.tb02508.x
Subject(s) - contradiction , confusion , set (abstract data type) , term (time) , position (finance) , epistemology , mathematical economics , philosophy , economics , psychology , computer science , psychoanalysis , physics , finance , quantum mechanics , programming language
SUMMARY The article reviews the first two stages of the Patinkin Controversy; these stages deal with the question of whether the Classical system is logically sound. Two distinct meanings of the term inconsistency are established: inconsistency in the sense that, for a given system of equations, all equations cannot be simultaneously satisfied by at least one set of values of the variables; and inconsistency in the sense that, for a given set of assumptions, a contradiction is present. It is shown that much of the controversy's confusion has arisen from a failure to distinguish between these two meanings. The conclusion reached is that despite the attacks on Patinkin's position, the logical problem which he descovered still remains.