Macroeconomic Methodology

A Post-Keynesian Perspective

Häftad, Engelska, 2011

546 kr

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Beskrivning

Jesper Jespersen presents a treatise on the importance of the choice of methodology within macroeconomics. Given that no scientifically based macroeconomic policy recommendation should be established without an evaluation of the methods employed, this book gives a clear exposition of how proper macroeconomic analysis should be undertaken. Furthermore, it is convincingly argued that one of the lasting contributions of John Maynard Keynes was his emphasis on methodology; that macroeconomic consequences of uncertainty could not be analysed within the established general equilibrium framework. It is due to post-Keynesian economics supported by critical realism that the understanding of Keynes's methodology has been resurrected, which has eventually resulted in renewed debate on realistic macroeconomic policies to restore full employment without inflation.Macroeconomic Methodology is an inquiry into the question of how to conduct a proper scientific analysis of uncertainty within macroeconomics. It will be of great interest to scholars of the philosophy of social sciences and methodology, as well as post-Keynesian and heterodox economists.

Produktinformation

Utgivningsdatum:2011-07-29
Mått:156 x 234 x undefined mm
Format:Häftad
Språk:Engelska
Förlag:Edward Elgar Publishing Ltd
ISBN:9780857937582

Utforska kategorier

Makroekonomi inom Ekonomi och Ledarskap

Mer om författaren

Jesper Jespersen, Professor of Economics, Roskilde University and Adjunct Professor, Aalborg University, Denmark

Recensioner i media

'Methodological practice is at the heart of divisions between schools of macroeconomic thought. Jesper Jespersen's book explains why and precisely how, and gives the reader the insight to choose between rival approaches. His own inspiration comes from Critical Realism and Popper's Three World analysis, with Keynes as the main exponent of a realist approach. The starting point of realist theory is a view of how the world is, rather than axioms, and the test is whether the theory can make, as Jespersen puts it, the "round trip back to reality", to give practical guidance to policy. This is only the focal point of a rich and attractive canvas. How I wish this book had been available when I taught methodology! And how I wish economists from all schools of thought would read it!'

Innehållsförteckning

Contents: Preface Introduction 1. Keynes-Inspired Macroeconomic Theory in a Methodological Perspective 2. Macroeconomic Methodology: From a Critical Realist Perspective 3. The Macroeconomic Landscape: An Example of an Ontological Reflection 4. About Uncertainty, Risk and Limited Knowledge 5. Uncertainty and ’the Economy as a Whole’ 6. Equilibrium and Path-dependence from a Perspective of Uncertainty 7. The Fallacy of Composition 8. Effective Demand: A Macroeconomic Causal Relationship 9. Methodological Perspectives for Realistic Macroeconomic Research: A Summary Bibliography Index