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Microfoundations Comrade 14/05/30(Fri)20:30 No. 111

Let's talk serious hardcore motherfucking economics.

How in the hell do people think macroeconomics can emerge except as the aggregation of microeconomic behaviour.

It doesn't take complicated modelling to figure this out. No, it takes consideration of the fact that people exist, and sometimes do batshit crazy things. Proof - mental hospitals. I don't think there are many schizophrenics maximising their cardinal utility, do you?

There, microfoundations are back on the agenda. I think I want to go back to university to write a thesis on the topic. But am I wasting my time? Why aren't all those serious cognitive scientist revolutionising every other fields doing something with us?

>>	Comrade 14/07/13(Sun)11:32 No. 236 >>111 How or where did the question arise? I agree with you, but where is the dissent? Or are you hinting that because the most powerful Socialist theories rely on a strong hand, their economies are naturally flawed?

Comrade 14/07/14(Mon)08:26 No. 237

>>236
Standard economic theories - neoclassical economics, neoclassical synthesis, classical economics...all of them are subject to the "lucas critique" which I have just summarised.

Sometimes I feel as if just about every single person in the world who has studied lots of economics and isn't me is either a purveyor or victim of deceit.

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