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Microfoundations Reconsidered

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  • Pedro Garcia Duarte
  • Gilberto Tadeu Lima

Abstract

The highly regarded contributors to the book argue that the standard narrative of microfoundations is likely to be unreliable. They therefore re-examine the history of the relationship of microeconomics and macroeconomics, starting from their emergence as self-consciously distinct fields within economics in the early 1930s. They seek to go beyond the conventional history that is often told and written by practicing economists. From different perspectives they challenge the association of microfoundations with Robert Lucas and rational expectations and offer both a more complete and a deeper reading of the relationship between micro and macroeconomics.

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Suggested Citation

  • Pedro Garcia Duarte & Gilberto Tadeu Lima, 2012. "Microfoundations Reconsidered," Books, Edward Elgar Publishing, number 14869.
  • Handle: RePEc:elg:eebook:14869
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    Keywords

    Economics and Finance;

    JEL classification:

    • B5 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches

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