The Early History of the Box Diagram

39 Pages Posted: 17 Nov 2012  

Thomas M. Humphrey

Federal Reserve Banks - Federal Reserve Bank of Richmond

Date Written: 1996

Abstract

From Francis Edgeworth in the 1880s to Paul Samuelson and Kenneth Arrow in the 1950s, economists found a simple diagram the key to unlocking the deepest mysteries of economic theory. The optimality of competitive equilibrium, the inefficiency of simple monopoly pricing, the logic of optimum resource allocation, the sources of and gains from trade, the factor-share effects of tariffs, the impact of increasing numbers on the core of the economy -- all were rendered transparent by the diagram.

Suggested Citation

Humphrey, Thomas M., The Early History of the Box Diagram (1996). FRB Richmond Economic Quarterly, vol. 82, no. 1, Winter 1996, pp. 37-75. Available at SSRN: https://ssrn.com/abstract=2125906

Thomas M. Humphrey (Contact Author)

Federal Reserve Banks - Federal Reserve Bank of Richmond ( email )

P.O. Box 27622
Richmond, VA 23261
United States

Paper statistics

Downloads
76
Rank
260,089
Abstract Views
590