The irreducibility of macro to microeconomics: a methodological approach

The irreducibility of macro to microeconomics: a methodological approach

Blog Article

ABSTRACT This paper criticizes the idea, widespread today, of the need to seek micro-foundations for macroeconomics.The authors argue that these two the gel bottle cashmere fields of economics, micro and macroeconomics, use different methodological approaches.Microeconomics deals with economic problems according to a logical-deductive methodology, while macroeconomics is more characterized by a historical-inductive approach.

The attempt to reduce macroeconomics to microeconomics, or vice versa, brings only an impoverishment to science and economic debate, in korpskaft which, ideally, there should be room for a great pluralism of ideas and theoretical currents.