TY - JOUR N2 - The paper considers a private ownership economy in which economic agents could realize their aims at given prices, Walras Law is satisfied but agents’ optimal plans of action do not lead to an equilibrium in the economy. It means that the market clearing condition is not satisfied for agents’ optimal plans of action. In this context, the paper puts forward three specific adjustment processes resulting in equilibrium in a transformation of the initial economy. Specifically, it is shown, by the use of strict mathematical reasoning, that if there is no equilibrium in a private ownership economy at given prices, then, under some natural economic assumptions, after a mild evolution of the production sector, equilibrium at unchanged prices can be achieved. L1 - http://www.czasopisma.pan.pl/Content/109834/PDF-MASTER/mainFile.pdf L2 - http://www.czasopisma.pan.pl/Content/109834 PY - 2018 IS - No 4 EP - 332 DO - 10.24425/cejeme.2018.125874 KW - private ownership economy KW - equilibrium KW - Walras Law KW - adjustment processes A1 - Lipieta, Agnieszka PB - Oddział PAN w Łodzi DA - 31.12.2018 T1 - Adjustment Processes Resulting in Equilibrium in the Private Ownership Economy SP - 305 UR - http://www.czasopisma.pan.pl/dlibra/publication/edition/109834 T2 - Central European Journal of Economic Modelling and Econometrics ER -