The Stability of a Competitive Economy

In September 1960, I read a paper on the stability of a competitive economy in Naples meeting of the Econometric Society (Bessiere, 1962). This was mainly a survey of researches carried on at Stanford University. ¹ Then, I was invited to contribute a properly revised and enlarged version of the paper to Econometrica. The paper was accepted to be published in Econometrica as one of the survey papers Econometrica was then publishing. Two years later, it was published as “Stability of a competitive economy, a survey article” (Negishi, 1962). Since then, this article has been widely read, and received many comments, among which the most detailed was the one from Professor Weintraub (Weintraub, 1991).