Microfoundations: a diversity of treatments

Citation

Dow S (1985) Microfoundations: a diversity of treatments. Eastern Economic Journal, 11 (4), pp. 342-360. http://www.jstor.org/stable/40325001

Abstract
First paragraph: Debates in macroeconomics are frequently exercises in lack of communication, in talking at cross-purposes. Not only is there scope for using words common to represent different concepts, but the very questions posed for debate may reflect the concerns of only some participants in the debate. The issue of microfoundations of macroeconomics is a case in point. The debate has focused on the particular concerns of orthodox economics (see Weintraub, 1979), although every school of thought must face up to the role of microfoundations in terms of its own theoretical structure (see Harcourt, 1977). The purpose of this paper is to explore what the microfoundations issue means to different schools of thought, and how the resulting difficulties have been addressed. It is an exercise in description and analysis rather than criticism.

Journal
Eastern Economic Journal: Volume 11, Issue 4

People

Professor Sheila Dow

Emeritus Professor, Economics