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The Micro-Macro Link in Heterodox Economics

Author

Listed:
  • Claudius Graebner

    (Institute for Institutional and Innovation Economics (iino), University of Bremen, Germany)

  • Jakob Kapeller

    (Institute for Comprehensive Analysis of the Economy, Johannes Kepler University Linz, Austria)

Abstract

This paper provides an introduction to a unifying heterodox approach to the micro-macro link in economics. We emphasize the analytical problems that may arise from popular misunderstandings about the relationship of individual and aggregate level and thereby illustrate why a thorough understanding of aggregation and aggregates in science is necessary In a second step we show that the different heterodox approaches to the micro-macro link in economics are not only consistent, but complementary to each other and allow for a concise treatment of the micro-macro link based on a set of shared fundamental principles. We then argue that the central pillars of different heterodox conceptions of the micro-macro link can be subsumed under a common philosophical umbrella labeled 'systemism'. This umbrella is a useful device helping to explore the commonalities and differences in various heterodox approaches to the micro-macro link in economics. We argue that systemism can serve as a common denominator for the different approaches, enabling mutual communication and comparability.

Suggested Citation

  • Claudius Graebner & Jakob Kapeller, 2015. "The Micro-Macro Link in Heterodox Economics," ICAE Working Papers 37, Johannes Kepler University, Institute for Comprehensive Analysis of the Economy.
    • Handle: RePEc:ico:wpaper:37
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    Cited by:

    1. Claudius Gräbner, 2017. "The Complexity of Economies and Pluralism in Economics," Journal of Contextual Economics (JCE) – Schmollers Jahrbuch, Duncker & Humblot, Berlin, vol. 137(3), pages 193-225.
    2. Claudius Gräbner, 2017. "The Complementary Relationship Between Institutional and Complexity Economics: The Example of Deep Mechanismic Explanations," Journal of Economic Issues, Taylor & Francis Journals, vol. 51(2), pages 392-400, April.
    3. Torsten Heinrich, 2018. "A Discontinuity Model of Technological Change: Catastrophe Theory and Network Structure," Computational Economics, Springer;Society for Computational Economics, vol. 51(3), pages 407-425, March.
    4. Claudius Graebner & Amineh Ghorbani, 2019. "Defining institutions - A review and a synthesis," ICAE Working Papers 89, Johannes Kepler University, Institute for Comprehensive Analysis of the Economy.

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