The Neoclassical desire for sound foundations for macroeconomics was a laudable objective, but their attempt to base macroeconomics on microeconomics was fatally flawed. You can’t derive a higher level analysis from a lower level one, and Neoclassical micro itself is a series of myths. Instead, macroeconomics can be derived directly and easily from macroeconomic definitions. ...
Topics:
Steve Keen considers the following as important:
This could be interesting, too:
Lars Pålsson Syll writes When usefulness is more important than precision
Bill Haskell writes The Plan to destroy Obamacare
NewDealdemocrat writes The ISM services index, measuring 75% of the economy, sounds an ‘all clear’ – for now, anyway
Joel Eissenberg writes High fructose corn syrup and your health
|