The Impossibility of Microfoundations for Macroeconomics

#economics #ideology

in general, Neoclassicals are blithely unaware of how their own school of thought developed, of empirical and theoretical results that contradict core tenets their own beliefs, of the competing schools of thought within economics, of the development of economics itself over time, and crucially, of intellectual developments that have extended human knowledge in fundamental ways that affect all fields of knowledge—including economics.

https://profstevekeen.substack.com/p/the-impossibility-of-microfoundations-7fe