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    • Journal of Interdisciplinary Research (JIDR) (UMKC)
    • Journal of Interdisciplinary Research (JIDR), vol. 1, no. 1 (2007)
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    •   MOspace Home
    • University of Missouri-Kansas City
    • School of Graduate Studies (UMKC)
    • Journal of Interdisciplinary Research (JIDR) (UMKC)
    • Journal of Interdisciplinary Research (JIDR), vol. 1, no. 1 (2007)
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    Heterodox Microfoundations: A Methodological Appraisal

    Jo, Tae-Hee
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    Date
    2007
    Format
    Article
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    Abstract
    This paper examines underlying methodological commitments in orthodox and heterodox approaches to micro and macro. Identifying methodological advantages and drawbacks of existing microfoundations, macrofoundations, and mesofoundations, I uphold the need for the heterodox microfoundations of macroeconomics which is centered on the casual mechanisms of an economic system. By this, we are capable of analyzing micro- and macroreality which are recursively interrelated. In addition, the fallacy of macroreductionism and central-reductionism can be avoided. One way of articulating the heterodox microfoundations is to utilize a circular production input-output matrix of a capitalist system combined with the price system. Such a framework is consistent with heterodox economics at the methodological and theoretical level.
    URI
    http://hdl.handle.net/10355/10076
    Citation
    Journal of Interdisciplinary Research, Volume 1, Number 1, pp. 93-111
     
    Journal of interdisciplinary research, volume 1, pages 93-111
     
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    • Economics Publications (UMKC)
    • Journal of Interdisciplinary Research (JIDR), vol. 1, no. 1 (2007)
    • Mathematics and Statistics Publications (UMKC)

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