By J. E. King
'A iteration in the past Dudley Dillard wrote a recognized article at the 'barter phantasm in classical and neoclassical economics'. Now John King has long past a step additional and written in regards to the microfoundations myth. the semblance has been with us for a long time, the myth is of newer classic. jointly they've got blocked a easy knowing of macroeconomic and fiscal phenomena at a time after they are so much urgently wanted. it is a publication that needed to be written, and we're lucky that it truly is John King who has written it. crucial analyzing for our times.'
- John Smithin, York college, Canada
In this tough e-book, John King makes a sustained and complete assault at the dogma that macroeconomic concept should have 'rigorous microfoundations'. He attracts on either the philosophy of technological know-how and the background of monetary concept to illustrate the hazards of foundational metaphors and the defects of micro-reduction as a methodological precept. robust feedback of the microfoundations dogma is documented in nice aspect, from a few mainstream and lots of heterodox economists and in addition from financial methodologists, social theorists and evolutionary biologists. the writer argues for the relative autonomy of macroeconomics as a unique 'special science', cooperating with yet almost certainly now not reducible to microeconomics.
The Microfoundations Delusion will end up a stimulating and thought-provoking learn for students, scholars and researchers within the fields of economics, heterodox economics and heritage of monetary thought.
Contents: 1. advent half I: Microfoundations and the Philosophy of technological know-how 2. Microfoundations as a (Bad) Metaphor three. Microfoundations as Micro-reduction four. Case stories: Biology and Social technological know-how half II: Microfoundations within the background of Economics and different Social Sciences five. 'Microfoundations' within the Literature of Economics, half I: 1936-1975 6. Microfoundations within the Literature of Economics, half II: 1975 2012 7. Crossing the Border: 'Microfoundations' within the different Social Sciences half III: Dissenting Voices eight. The Dissenters, half I: The submit Keynesians nine. The Dissenters, half II: Mainstreamers, Austrians and Institutionalists 10. the industrial Methodologists and Microfoundations eleven. end References Index