IDEAS home Printed from https://ideas.repec.org/h/elg/eechap/16503_1.html
   My bibliography  Save this book chapter

Rethinking the foundations of macroeconomics

In: A Modern Guide to Rethinking Economics

Author

Listed:
  • Claude Gnos

Abstract

The standard neoclassical method for building macroeconomics upon a microeconomic foundation has proven unable to anticipate and account for actual issues, especially the financial and economic crisis that burst in 2008. In this chapter we show that it would be appropriate to return to the method once used by classical writers, who considered the economy as a whole and referred to institutions and production conditions as the cornerstone of economic activity. This was also Keynes’s method, in developing the concept of a monetary economy of production. We show that a renewed analysis of the economy as a whole would open up a range of new perspectives on macroeconomics.

Suggested Citation

  • Claude Gnos, 2017. "Rethinking the foundations of macroeconomics," Chapters, in: Louis-Philippe Rochon & Sergio Rossi (ed.), A Modern Guide to Rethinking Economics, chapter 1, pages 17-27, Edward Elgar Publishing.
    • Handle: RePEc:elg:eechap:16503_1
    as

    Download full text from publisher

    File URL: https://www.elgaronline.com/view/9781784717209.00010.xml
    Download Restriction: no
    ---><---

    More about this item

    Keywords

    Economics and Finance;

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:elg:eechap:16503_1. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Darrel McCalla (email available below). General contact details of provider: http://www.e-elgar.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.