Steve Keen does some interesting work modelling economies as complex dynamic systems (I think basically not really ever being in a state of equilibrium). He eve

Steve Keen does some interesting work modelling economies as complex dynamic systems (I think basically not really ever being in a state of equilibrium). He even got grants to create a new systems dynamics application for that purpose [1] (really ugly UI though unfortunately). I believe he (and others) contend that the idea of an economy being in equilibrium was really only mostly a simplifying assumption that early economists made because it made things easier to calculate, but doesn't really reflect reality. It just along the way got turned into an economic "law" accidentally along the way in the history of economics. 1. https://sourceforge.net/projects/minsky/ https://sourceforge.net/projects/minsky/