Saturday, June 06, 2009

Two Tabs

  • Matthew Yglesias (and informed commentators) on the microfoundations of macroeconomics
  • Robert Nadeau on neoclassical economic theory for the Encyclopedia of Earth. (Recall this.)

1 comment:

Ian Wright said...


Thanks for the link to the discussion on microfoundations for macroeconomics. The comments section was generally a depressing read, and reminds me just how cut off trained economists tend to be from wider scientific developments.

You may find this recent special issue on "Reconstructing Macroeconomics" of interest.

(This is a shameless plug for one of my papers on "implicit microfoundations for macroeconomics". Also Aoki's papers are very good for showing the logical problems with the notion of a "representative agent", and in addition demonstrating at great length and detail how probabilistic approaches to macroeconomics both work and are essential).