Heterodox Microfoundations: A Methodological Appraisal

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Heterodox Microfoundations: A Methodological Appraisal

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dc.contributor.author Jo, Tae-Hee
dc.date.accessioned 2011-03-01T20:09:04Z
dc.date.available 2011-03-01T20:09:04Z
dc.date.issued 2011-03-01
dc.date.issued 2007
dc.identifier.citation Journal of Interdisciplinary Research, Volume 1, Number 1, pp. 93-111 en
dc.identifier.issn 1937-2647
dc.identifier.uri http://hdl.handle.net/10355/10076
dc.description.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. en_US
dc.language.iso en_US en_US
dc.publisher Interdisciplinary Doctoral Student Council at the University of Missouri- Kansas City en
dc.subject Macrofoundation en
dc.subject Mesofoundation en
dc.subject.lcsh Macroeconomics -- Mathematical models en
dc.subject.lcsh Decision making -- Mathematical models en
dc.subject.lcsh Mathematical optimization en
dc.subject.lcsh Matrices en
dc.title Heterodox Microfoundations: A Methodological Appraisal en_US
dc.type Article en_US


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