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On the Relation Between Micro- and Macroeconomic “Entities”: A Philosophical Approach

In: The Nature of the Economy

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  • Ricardo F. Crespo

    (Universidad Austral and researcher at the National Council of Scientific Research (CONICET, Argentina))

Abstract

Based on the probe into the nature of social collectives, this chapter tackles the nature of macroeconomic entities. The first section introduces the definitions and differences between micro- and macroeconomics. The second section presents the microfoundations program and its core tool, the “Representative Agent.” The third section tackles the ontological nature of macroeconomic entities, considering the notions of supervenience and emergence, and John Maynard Keynes’sKeynes, J.M. position before applying Aristotle’sAristotle theory of wholes to the chapter’s topic. Finally, a short conclusion wraps up the previous arguments.

Suggested Citation

  • Ricardo F. Crespo, 2022. "On the Relation Between Micro- and Macroeconomic “Entities”: A Philosophical Approach," Springer Books, in: The Nature of the Economy, chapter 0, pages 149-173, Springer.
    • Handle: RePEc:spr:sprchp:978-3-031-02453-5_8
    DOI: 10.1007/978-3-031-02453-5_8
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