Beyond Microfoundations : Post Walrasian Economics

David Colander

ISBN 10: 0521034582 / ISBN 13: 9780521034586

Published by Cambridge University Press, 2006

About this Item

Druck auf Anfrage Neuware - Printed after ordering - Beyond Microfoundations discusses the foundations for a post-Walrasian macroeconomics and, in doing so, carries the work of Robert Clower and Axel Leijonhufvud to the present. This book spells out both why an alternative approach to macro is needed, and what the essence of the approach will be. This post-Walrasian approach to macro is neither Keynesian nor Classical, both of which have Walrasian foundations, but it offers an approach to macro in which Walrasian economics is turned on its head. Specifically, it rejects the Walrasian ad hoc assumptions of the existence of a unique equilibrium and of simple dynamics. That rejection leads one to a fundamentally different conception of macro than most macroeconomics have implicit in their formal model. Post-Walrasian macroeconomics offers a vision of macro in which micro foundations devoid of an explicit macro context have no place, but one in which institutions have a fundamental role. Post-Walrasian macroeconomics provides a foundation for an alternative macroeconomics for the twenty-first century built on the edges of chaos.

Seller Inventory # 9780521034586

Bibliographic Details

• Title: Beyond Microfoundations : Post Walrasian Economics
• Publisher: Cambridge University Press
• Publication Date: 2006
• Language: English
• ISBN 10: 0521034582
• ISBN 13: 9780521034586
• Binding: Taschenbuch
• Condition: Neu
• Dimensions: 229W x 152H x 17D millimeters 229 millimeters width by 152 millimeters height by 17 millimeters depth
• Weight: 465 grams

About this title

Synopsis

Beyond Microfoundations discusses the foundations for a post-Walrasian macroeconomics and, in doing so, carries the work of Robert Clower and Axel Leijonhufvud to the present. This book spells out both why a new approach to macro is needed, and what the essence of the approach will be. This post-Walrasian approach to macro is neither Keynesian nor Classical, both of which have Walrasian foundations, but it offers an approach to macro in which Walrasian economics is turned on its head. Specifically, it rejects the Walrasian ad hoc assumptions of the existence of a unique equilibrium and of simple dynamics.

Review

"...books like this are fun to read..." Andrew John, Journal of Economic Literature

"...this book is extremely valuable for expanding the horizon of economic thinking. It provides a key to a sizeable literature working towards new economic paradigm." Michael Ambrosi, Eastern Economic Journal