The microfoundations delusion metaphor and dogma in the history of macroeconomics

In this challenging book, John King makes a sustained and comprehensive attack on the dogma that macroeconomic theory must have 'rigorous microfoundations'. He draws on both the philosophy of science and the history of economic thought to demonstrate the dangers of foundational metaphors a...

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Main Author: King, John Edward
Corporate Author: Edward Elgar Publishing
Format: eBook
Language:English
Published: Cheltenham Edward Elgar 2012
Subjects:
Online Access:
Collection: Edward Elgar eBooks Archive 1993-2015 - Collection details see MPG.ReNa
Summary:In this challenging book, John King makes a sustained and comprehensive attack on the dogma that macroeconomic theory must have 'rigorous microfoundations'. 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 'special science', cooperating with but most definitely not reducible to microeconomics
pt. I. Microfoundations and the philosophy of science -- pt. II. Microfoundations in the history of economics and other social sciences -- pt. III. Dissenting voices
Physical Description:304 p ill
ISBN:184980317X
9781781009123
9781849803175