Lionel McKenzie's contributions to economic theory are central in importance and influence. The collected essays display his priority in establishing existence of competitive equilibrium, his many additional refinements in this area, with special regard to the analysis of foreign trade, and his masterful analysis of dynamic economic problems. On rereading the latter, I realize how much there is still to be learned from his papers about the analysis of optimal economic growth.
Kenneth J. Arrow, Stanford University
This is quite a selection of papers, many are classics. They make clear the value of the language developed by Lionel McKenzie for studies of the aggregate economy, whether it be a trade, growth or for that matter business cycle study. Another reason to study these papers is that reading them will stimulate further development of theory.
Edward C. Prescott, Department of Economics, and W. P. Carey School of Business, Arizona State University
In conjunction with a rather select and pioneering group, Lionel McKenzie's uniquely broad vision for classical general equilibrium theory conceived the foundations for the subject; and the profession surely owes a debt of gratitude to Professors Mitra and Nishimura for making these classical papers available in one place to the current and coming generations of scholars.
M. Ali Khan, Department of Economics, Johns Hopkins University
This is quite a selection of papers; many are classics. They make clear the value of the language developed by Lionel McKenzie for studies of the aggregate economy, whether it be a trade, growth, or, for that matter, business cycle study. Another reason to study these papers is that reading them will stimulate further development of theory.
Edward C. Prescott, Department of Economics, and W. P. Carey School of Business, Arizona State University, and Nobel Laureate in Economics