Robert Solow kicking Lucas and Sargent in the pants
Source ↗
👁 11
💬 0
from Lars Syll The purported strength of New Classical macroeconomics is that it has firm anchorage in preference-based microeconomics, and especially the decisions taken by inter-temporal utility maximising ‘forward-looking’ individuals. To some of us, however, this has come at too high a price. The almost quasi-religious insistence that macroeconomics has to have microfoundations — without […]
Comments (0)