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- Le Chatelier principle
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- least cost location theory
- Leontief paradox
- life-cycle hypothesis
- Lindahl equilibrium
- linear programming
- loanable funds theory of the rate of interest
- long wages
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- Lyapunov's theorem
- machinery question
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- managerial theories of the firm
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- shadow pricing
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- variable proportions, law of
- vent for surplus
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- Wicksell's theory of capital
- x-efficiency
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catastrophe theory
(20th century)
Catastrophe theory has its roots in the work of French mathematician Jules Henri Poincare (1854-1912).
A mathematical study of the transition from one state of equilibrium to another and the ensuing instability.
The analysis shows how many stable equilibria exist given a choice of control variables but does not show which of them will be in a particular system.
Source:
P T Saunders, An Introduction to Catastrophe Theory (Cambridge, 1980)
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