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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Format: | eBook |
Language: | English |
Published: |
Cheltenham
Edward Elgar
2012
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Online Access: | |
Collection: | Edward Elgar eBook Archive - 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 |
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Physical Description: | 304 p ill |
ISBN: | 184980317X 9781781009123 9781849803175 |