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The Mainstream Obsession with Microfoundations and why it is an intellectual dead-end

Steve Keen
ProfSteveKeen, 2016
Level: advanced
Perspectives: Complexity Economics, Post-Keynesian Economics
Topic: Reflection of Economics
Format: Lecture
Duration: 01:34:08
Link: https://www.youtube.com/watch?v=xKxzxhocTtI

Keen first compares neoclassical approaches to modelling with heterodox ones. Then he discusses in length the required assumptions and the inconsistencies of the aggregate demand and supply model, which is extrapolated from a micro perspective. At the end some dynamic models with feedback mechanisms are shown.

Go to: The Mainstream Obsession with Microfoundations and why it is an intellectual dead-end

Tags: consumption | demand | dynamics | equilibrium | firm | heterodoxy | income distribution | indifference curves | luxury goods | mainstream critique | mainstream economics | marginal productivity | modelling | neoclassical economics | production | Sonnenschein-Mantel-Debreu | Sraffa | supply | theory of the firm
2013
Level: adelantado
Discussing DSGE
Steve Keen discusses DSGE modeling and microfoundations by asking the question if it is ideologically possible to derive macroeconomics from microeconomics.
Steve Keen
ProfSteveKeen
2016
Level: debutante
Development of heterodox economics at public German universities since the 1970s
Exploring Economics, an open-source e-learning platform, giving you the opportunity to discover & study a variety of economic theories, topics, and methods.
Sebastian Thieme, Arne Heise
Zentrum für Ökonomische und Soziologische Studien, Universität Hamburg
2020
Level: debutante
Pluralist Economic Analysis
This module examines current socio-political issues through the lens of pluralism, that is pluralism of theory, pluralism of method and interdisciplinary pluralism
Sophia Kuehnlenz
Manchester Metropolitan University

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