Does Macroeconomics Need Microeconomic Foundations?

Sergio Da Silva ()

Economics - The Open-Access, Open-Assessment E-Journal, 2009, vol. 3, issue 23, pages 1-11

Abstract: I argue that it is microeconomics that needs foundations, not macroeconomics. Preferences need to be built on biology, and, in particular, on neuroscience. In contrast, macroeconomics could benefit from rationalizations of aggregate economic phenomena by non-equilibrium statistical physics.

Keywords: Microfoundations; neuroeconomics; econophysics (search for similar items in EconPapers)
Date: 2009
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Persistent link: http://EconPapers.repec.org/RePEc:zbw:ifweej:7608

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