by Summary:
The irony of the program of microfoundations is that, in the name of preserving the importance of individual intentional states and preserving the individual economic agent as the foundation of economics, it fails to provide any intelligible connection between the individual and the aggregate. Instead, it embraces the representative agent, which is as close to an untethered Hegelian World (or Macroeconomic) Spirit as one might fear in the microfoundationist’s worst nightmare. Kevin Hoover
Topics:
Lars Pålsson Syll considers the following as important: Economics
This could be interesting, too:
The irony of the program of microfoundations is that, in the name of preserving the importance of individual intentional states and preserving the individual economic agent as the foundation of economics, it fails to provide any intelligible connection between the individual and the aggregate. Instead, it embraces the representative agent, which is as close to an untethered Hegelian World (or Macroeconomic) Spirit as one might fear in the microfoundationist’s worst nightmare. Kevin Hoover
Topics:
Lars Pålsson Syll considers the following as important: Economics
This could be interesting, too:
Lars Pålsson Syll writes Everything you want to know about MMT
Lars Pålsson Syll writes In praise of pluralism
Lars Pålsson Syll writes MMT — the key insights
The irony of the program of microfoundations is that, in the name of preserving the importance of individual intentional states and preserving the individual economic agent as the foundation of economics, it fails to provide any intelligible connection between the individual and the aggregate. Instead, it embraces the representative agent, which is as close to an untethered Hegelian World (or Macroeconomic) Spirit as one might fear in the microfoundationist’s worst nightmare.
