Methodological Foundations of Macroeconomics
Keynes and Lucas
By (author) Alessandro Vercelli
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Methodological Foundations of Macroeconomics by Alessandro Vercelli
Book DescriptionThis book is an investigation of the methodological and epistemological foundations of macroeconomic theory, based on an examination of the theories of Keynes and Lucas. It is divided into two parts. In the first Professor Vercelli discusses the methodological issues which lie behind the conflict among different schools of thought in macroeconomics (equilibrium and disequilibrium, risk and uncertainty, rationality and causality). These issues are central to the current debate not only in many branches of economics, but also in other scientific disciplines. The traditional point of view of science based on equilibrium, stability and determinism has been increasingly challenged by a new point of view in which disequilibrium, instability and uncertainty play a crucial role. This, the author argues, is bound to put macroeconomics in a new, more promising position. In the second part of the book the author compares the two main alternative research programmes in macroeconomics: that outlined by Keynes in his 'General Theory', and that suggested by Lucas, the leader of the new classical economists.
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Book DetailsISBN: 9780521074735
(228mm x 152mm x 16mm)
Imprint: Cambridge University Press
Publisher: Cambridge University Press
Publish Date: 28-Aug-2008
Country of Publication: United Kingdom
Books By Author Alessandro Vercelli
Environment, Inequality and Collective Action, Paperback (November 2012)
The lectures collected in this series of books offers a clear account of the alternative research paths that characterize a certain field. This text will interest a wide range of economists across the world.
Keynes's General Theory After Seventy Years, Hardback (February 2010)
This book provides a comprehensive overview of Keynes' contributions to macroeconomics and offers an in-depth analysis of the contested legacy of The General Theory, a book that marked the emergence of modern macroeconomics from the earlier heritage of monetary theory and business cycle and analysis.
Global Sustainability, Hardback (April 2008)
This book examines how consistent the post-war process of globalization has been with the basic requisites of sustainable development. It argues that the polarization of public opinion into support of either globalization or sustainable development has not helped an understanding of the issues, and that the confrontation should be abandoned.
Psychology, Rationality and Economic Behaviour, Hardback (August 2005)» View all books by Alessandro Vercelli
Economics has paid little attention to the psychology of economic behaviour, leading to somewhat simplistic assumptions about human nature. The psychological aspects have typically been reduced to standard utility theory, based on a narrow conception of rationality and self-interest maximization.
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