Supply and demand does a poor job at explaining anything. The price changed.. why? Was it because it moved toward an equilibrium, from the equilibrium, has the

Supply and demand does a poor job at explaining anything. The price changed.. why? Was it because it moved toward an equilibrium, from the equilibrium, has the demand curve shifted, has the supply curve shifted? The problems of general equilibrium approach are quite succinctly described in Keen: Debunking Economics. And compared to approach in Blatt: Dynamic Economic Systems, it's a disaster - too many parameters and assumptions for too little explaining power. It was a pretty decent way to describe the world when Walras came up with it; but it should have been obsoleted years ago.