Hegelian macroeconomics

6 November, 2015 at 16:14 | Posted in Economics | Leave a comment

62152086The irony of the program of microfoundations is that, in the name of preserving the importance of individual intentional states and preserving the individual economic agent as the foundation of economics, it fails to provide any intelligible connection between the individual and the aggregate. Instead, it embraces the representative agent, which is as close to an untethered Hegelian World (or Macroeconomic) Spirit as one might fear in the microfoundationist’s worst nightmare.

Kevin Hoover

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