(Thread) Here's an outline of an unwritten paper developing some ideas from my paper “Hayek Hicks Radner and Four Equilibrium Concepts" and some from previous blog posts, in particular Phillips Curve Musings. This thread will become a blogpost.
https://uneasymoney.com/2019/07/05/phillips-curve-musings/
1/
Standard supply-demand analysis is a form of partial-equilibrium (PE) analysis, which means that it is contingent on a ceteris paribus (CP) assumption, an assumption largely incompatible with realistic dynamic macroeconomic analysis.

2/
Macroeconomic analysis is necessarily situated a in general-equilibrium (GE) context that precludes any CP assumption, because there are no variables that are held constant in GE analysis.

3/
Keynes in the GT criticized using supply-demand analysis to argue that nominal-wage cuts would cure unemployment.

Instead, despite his Marshallian PE upbringing, Keynes argued that supply-demand analysis is unsuited for analyzing the aggregate labor market.

4/
The comparative-statics method described by Samuelson in the Foundations of Econ Analysis formalized PE analysis under the maintained assumption that a unique GE obtains and deriving a “meaningful theorem” from the 1st- and 2nd-order conditions for a local optimum.

5/
PE analysis, as formalized by Samuelson, is conditioned on the assumption that GE obtains. It is focused on the effect of changing a single parameter in a single market small enough for the effects on other markets of the parameter change to be made negligible. 6/
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