The Mainstream Obsession with Microfoundations and why it is an intellectual dead-end

Steve Keen
ProfSteveKeen, 2016
Grado: adelantado
Perspectivas: Economía de la complejidad, Economía poskeynesiana
Topic: Reflexión sobre economía
Format: Ponencia
Duración: 01:34:08
Enlace: https://www.youtube.com/watch?v=xKxzxhocTtI

Keen first compares neoclassical approaches to modelling with heterodox ones. Then he discusses in length the required assumptions and the inconsistencies of the aggregate demand and supply model, which is extrapolated from a micro perspective. At the end some dynamic models with feedback mechanisms are shown.

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Tags: consumption | demand | dynamics | equilibrium | firm | heterodoxy | income distribution | indifference curves | luxury goods | mainstream critique | mainstream economics | marginal productivity | modelling | neoclassical economics | production | Sonnenschein-Mantel-Debreu | Sraffa | supply | theory of the firm
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