ABSTRACT
A. A Brief Review of the Uses of Equilibrium Concepts in Economics: The major uses of equilibrium concepts in economics; The basic idea: disturbance and adjustment ■ B. The Role of Equilibrium in Economic Analysis: The contents and the working of a model; The four steps; Wide choice for the set of variables in equilibrium; Time and equilibrium; Definition of equilibrium ■ C. Misplaced Concreteness and Disguised Politics: Not an operational concept; Not the same as stability; Not a value judgment ■ D. Equilibrium in International Trade Theory: Consistent awareness of relativity: Joan Robinson; Built-in politics and simulated stability: Nurkse; Political criteria supported: Ellsworth and Kindleberger; Relativity and value-neutrality: Meade I; Alliance with political value judgments: Meade II; Return to value-neutrality: Meade III; Attack on persuasive definitions: Streeten; The trouble with built-in politics
