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Beyond Microfoundations
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Book Synopsis Beyond Microfoundations by : David Colander
Download or read book Beyond Microfoundations written by David Colander and published by Cambridge University Press. This book was released on 1996-01-26 with total page 286 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book discusses the foundations for post-Walrasian macroeconomics.
Book Synopsis The Microfoundations Delusion by : John Edward King
Download or read book The Microfoundations Delusion written by John Edward King and published by Edward Elgar Publishing. This book was released on 2012-01-01 with total page 301 pages. Available in PDF, EPUB and Kindle. Book excerpt: ïThis excellent book documents the creation of what has become the first commandment of orthodox macroeconomics: that microeconomic theory provides its foundation because this is the most secure form of economic knowledge. By contrast, John King shows conclusively that microeconomics cannot play such a role when assessed by the criteria of logic, or of science, or of economics itself. Indeed, he goes further and demonstrates that the microfoundations dogma detracts from knowledge about how economies actually operate, and instead generates patently false conclusions. Moreover, the dogma is shown to have blinded orthodox economists from even seeing the possibility of typical macroeconomic crises, and has disarmed them in formulating policies that would eliminate actual crises. The book therefore deals with a topic at the very heart of the present debacle in the world economy.Í _ Michael Howard, University of Waterloo, Canada ïA generation ago Dudley Dillard wrote a famous article on the ñbarter illusion in classical and neoclassical economicsî. Now John King has gone a step further and written about the microfoundations delusion. The illusion has been with us for a very long time, the delusion is of more recent vintage. Together they have blocked a basic understanding of macroeconomic and monetary phenomena at a time when they are most urgently needed. This is a book that had to be written, and we are fortunate that it is John King who has written it. Essential reading for our times.Í _ John Smithin, York University, Canada In this challenging book, John King makes a sustained and comprehensive attack on the dogma that macroeconomic theory must have ïrigorous microfoundationsÍ. He draws on both the philosophy of science and the history of economic thought to demonstrate the dangers of foundational metaphors and the defects of micro-reduction as a methodological principle. Strong criticism of the microfoundations dogma is documented in great detail, from some mainstream and many heterodox economists and also from economic methodologists, social theorists and evolutionary biologists. The author argues for the relative autonomy of macroeconomics as a distinct ïspecial scienceÍ, cooperating with but most definitely not reducible to microeconomics. The Microfoundations Delusion will prove a stimulating and thought-provoking read for scholars, students and researchers in the fields of economics, heterodox economics and history of economic thought.
Book Synopsis Microfoundations Reconsidered by : Pedro Garcia Duarte
Download or read book Microfoundations Reconsidered written by Pedro Garcia Duarte and published by Edward Elgar Publishing. This book was released on 2012-01-01 with total page 257 pages. Available in PDF, EPUB and Kindle. Book excerpt: Most macroeconomists agree that we live in the age of microfoundations. The recent worldwide financial crisis may have emboldened critics of this microfoundational orthodoxy, but it remains the dominant view that macroeconomic models must go beyond supply and demand functions to the level of individual decision-making, taking into account the general dynamic environment where agents live. Microfoundations Reconsidered seeks to reassess how the relationship of micro and macroeconomics evolved over time. The highly regarded contributors to the book argue that the standard narrative of microfoundations is likely to be unreliable. They therefore re-examine the history of the relationship of microeconomics and macroeconomics, starting from their emergence as self-consciously distinct fields within economics in the early 1930s. They seek to go beyond the conventional history that is often told and written by practicing economists. From different perspectives they challenge the association of microfoundations with Robert Lucas and rational expectations and offer both a more complete and a deeper reading of the relationship between micro and macroeconomics. Microfoundations Reconsidered is a valuable addition to the macroeconomic research literature. It is ideally suited to students, scholars, researchers, and practitioners with an interest in macro and microeconomics and the history of economics.
Book Synopsis Rationality, Bounded Rationality and Microfoundations by : R. Salehnejad
Download or read book Rationality, Bounded Rationality and Microfoundations written by R. Salehnejad and published by Springer. This book was released on 2006-11-28 with total page 309 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book challenges the generally accepted theories of classical economics, explaining why the expected utility theory, even if it were true, fails to be of much help in solving economic controversies.
Book Synopsis Microfoundations and Macroeconomics by : Steven Horwitz
Download or read book Microfoundations and Macroeconomics written by Steven Horwitz and published by Routledge. This book was released on 2000-09-28 with total page 288 pages. Available in PDF, EPUB and Kindle. Book excerpt: In the past, Austrian economics has been seen as almost exclusively focused on microeconomics. Here,Steven Horwitz constructs a systematic presentation of what Austrian macroeconomics would look like. This original and highly accessible work will be of great value and interest to professional economists and students.
Book Synopsis Microfoundations of Evolutionary Economics by : Yoshinori Shiozawa
Download or read book Microfoundations of Evolutionary Economics written by Yoshinori Shiozawa and published by Springer. This book was released on 2019-06-27 with total page 346 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book provides for the first time the microfoundations of evolutionary economics, enabling the reader to grasp a new framework for economic analysis that is compatible with evolutionary processes. Any independent approach to economics must include a value theory (or price theory) and price and quantity adjustment processes. Evolutionary economics has rightly and successfully concentrated its efforts on explaining evolutionary processes in technology and institutions. However, it does not have its own value theory and is not capable of explaining the workings of everyday economics processes, in which any evolutionary process would take place. Our point of departure is the addition of myopic agents with severely limited rational and forecasting capacities (in stark contrast to mainstream economics). We show how myopic agents, in a complex world, can produce a stable price system and demonstrate how they can adjust their production to changing demand flows. Agents behave without any knowledge of the overall process, and they generate a stable economy as large as the global network of exchanges. This is the true “miracle” of the market mechanism. In contrast to mainstream general equilibrium theory, this miracle can be explained without the need for an auctioneer or infinitely rational agents. Thanks to this book, evolutionary economics can now claim to be an independent approach to economics that can completely replace mainstream neoclassical economics.
Book Synopsis The Microfoundations of Diaspora Politics by : Alexandra Délano Alonso
Download or read book The Microfoundations of Diaspora Politics written by Alexandra Délano Alonso and published by Routledge. This book was released on 2021-09-21 with total page 247 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Microfoundations of Diaspora Politics examines the various actors within and beyond the state that participate in the design and implementation of diaspora policies, as well as the mechanisms through which diasporas are constructed by governments, political parties, diaspora entrepreneurs, or international organisations. Extant theories are often hard-pressed to capture the empirical variation and often end up identifying ‘exceptions’. The multidisciplinary group of contributors in this book theorise these ‘exceptions’ through three interrelated conceptual moves: first, by focusing on understudied aspects of the relationships between states as well as organised non-state actors and their citizens or co-ethnics abroad (or at home - in cases of return migration). Second, by examining dyads of ‘origin’ states and specific diasporic communities differentiated by time of emigration, place of residence, socio-economic status, migratory status, generation, or skills. Third, by considering migration in its multiple spatial and temporal phases (emigration, immigration, transit, return) and how they intersect to constitute diasporic identities and policies. These conceptual moves facilitate comparative research and help scholars identify the mechanisms connecting structural variables with specific policies by states (and other actors) as well as responses by the relevant diasporic communities. This book was originally published as a special issue of the Journal of Ethnic and Migration Studies.
Book Synopsis Interactions in Analytical Political Economy by : Mark Setterfield
Download or read book Interactions in Analytical Political Economy written by Mark Setterfield and published by Routledge. This book was released on 2019-07-23 with total page 294 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this interactive collection of essays, many of the leading proponents of analytical political economy examine major macroeconomic issues through the integration of mathematical analysis and non-neoclassical economic theory. The topics covered include the macroeconomics of the labor market, open economy issues, economic growth, and macroeconomic policy. The chapter-comment-reply format of the book creates a genuine dialogue on each theme, and evokes a sense of unfolding debate which draws the reader into the discussion.
Book Synopsis The Flawed Foundations of General Equilibrium Theory by : Frank Ackerman
Download or read book The Flawed Foundations of General Equilibrium Theory written by Frank Ackerman and published by Routledge. This book was released on 2004-08-02 with total page 240 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book, as the title suggests, explains how General equilibrium, the dominant conceptual framework in mainstream economics, describes a perfectly impossible world. Even with its counterfactual assumptions taken for granted, it fails on many levels. Under the impressive editorship of Ackerman and Nadal, this book will appeal to students and researchers in economics and related social science disciplines.
Book Synopsis Keynes and the Neoclassical Synthesis by : Dario Togati
Download or read book Keynes and the Neoclassical Synthesis written by Dario Togati and published by Routledge. This book was released on 1998-08-20 with total page 408 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book is a critical assessment of the Neoclassical Synthesis, long regarded as the standard interpretation of Keynes. It offers a fresh interpretation of Keynes and makes an important contribution to post-Keynesian economics
Book Synopsis The Foundations of Economic Policy by : Nicola Acocella
Download or read book The Foundations of Economic Policy written by Nicola Acocella and published by Cambridge University Press. This book was released on 1998-10 with total page 546 pages. Available in PDF, EPUB and Kindle. Book excerpt: Recent developments in public economics have largely been in the direction of reaffirming the limits of the market and of establishing new ones. The possible existence of fundamental non-convexities, imperfect and asymmetric information, incentive compatibility, imperfect competition, strategic complementarity, and scale economies led to the conclusion that a large set of market failures exist; such situations also imply government failure. Acocella, considers this complicated picture and provides a discussion of the different approaches to establishing social 'rankings' of the possible situations and the underlying principles. The arguments for and against different institutions are then analysed at a micro and macroeconomic level. The market and the government are recognised as imperfect, and thus complementary, institutions. Specific policy targets and instruments are considered in the areas of micro and macro-economic policy. Special attention is devoted to questions of policy management in an open economy. Finally, problems of domestic and international policy co-ordination are considered.
Book Synopsis Competing Economic Theories by : Sergio Nisticò
Download or read book Competing Economic Theories written by Sergio Nisticò and published by Routledge. This book was released on 2002-03-14 with total page 417 pages. Available in PDF, EPUB and Kindle. Book excerpt: Providing a contemporary overview of the debate amongst theoretical stands in economics, this book brings together contributions from a number of eminent scholars. It covers important issues in methodology and the history of thought, as well as economic analysis. The book is structured in five parts which: focus on the relevance of the history of economic ideas for current economic analysis centre on the role of classical theory of value and distribution contrast the equilibrium approach with an out-of-equilibrium perspective offer an evaluation of the legacy of Keynes in the light of the recent development of macroeconomics is dedicated to the issue of how institutions ought to be embedded in current economic theorising. Providing up-to-date, fresh and detailed perspectives on economic theory, this book will prove invaluable for students and academics in the fields of the history of economics, and contemporary economic theory.
Book Synopsis Big Players and the Economic Theory of Expectations by : R. Koppl
Download or read book Big Players and the Economic Theory of Expectations written by R. Koppl and published by Springer. This book was released on 2002-06-19 with total page 248 pages. Available in PDF, EPUB and Kindle. Book excerpt: Investment and all other economic actions depend on 'subjective' expectations. The problem is how to construct a theory of expectations that assumes people interpret their situations in unpredictable ways. Building on the evolutionary economics of F.A.Hayek, Koppl gives us such a theory. This includes a theory of 'Big Players', demonstrating that discretionary policy interventions create ignorance and uncertainty. The volume uses innovative methods to address many vital problems in economic theory, and connects with many other schools of economics including New Institutional Economics, Constitutional Economics and Post Walsarian Economics.
Book Synopsis Micro-foundations for Innovation Policy by : B. Nooteboom
Download or read book Micro-foundations for Innovation Policy written by B. Nooteboom and published by Amsterdam University Press. This book was released on 2008 with total page 369 pages. Available in PDF, EPUB and Kindle. Book excerpt: In economics, business, and government policy, innovation policy requires the creation of new approaches based on insight in what happens in innovation processes, on the micro level of people, firms and interaction between them. In innovation policy it should also be recognized that innovation entails a whole range of activities beyond R&D, such as entrepreneurship, design, commercialization, organization, collaboration and the diffusion of knowledge and innovations . This edited volume explores the roles of individuals and organizations involved in the creation and application of innovations. Covering topics as diverse as the macro-economic importance of innovation, theories of knowledge and learning, entrepreneurship, education and research, organizational innovation, networks and regional innovation systems, Micro-Foundations for Innovation Policy provides critical insights into the development of innovation policy.
Book Synopsis Microfoundations of Institutions by : Patrick Haack
Download or read book Microfoundations of Institutions written by Patrick Haack and published by Emerald Group Publishing. This book was released on 2019-11-25 with total page 232 pages. Available in PDF, EPUB and Kindle. Book excerpt: The notion of microfoundations has received growing interest in neo-institutional theory along with an increasing interest in microfoundational research in disciplines such as strategic management and organizational economics.
Book Synopsis Employee Inter- and Intra-Firm Mobility by : Daniel Tzabbar
Download or read book Employee Inter- and Intra-Firm Mobility written by Daniel Tzabbar and published by Emerald Publishing Limited. This book was released on 2020-07-15 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume identifies new theoretical and empirical directions to the study of employee mobility, covering broad sets of theoretical frameworks—which are embedded in strategic, organizational, sociological or entrepreneurial theories—and of empirical approaches—which cover industry, firm, team and individual levels of analysis.
