Our Economy

17 Pages Posted: 19 Oct 2009  

Christian Müller-Kademann

Jacobs University

Date Written: April 30, 2009

Abstract

I discuss the strengths and weaknesses of the current predominant approach to macroeconomic modelling and suggest an alternative perspective. This alternative rests on the insight that the economy is the result of individual decisions. The industry standard has it, however, that individual action is ruled by objective, general laws instead. Changing the point of view allows to reconcile numerous puzzles and paves the way for a promising new research agenda.

Keywords: fundamental uncertainty, subjectivity

JEL Classification: F31, F47, C53

Suggested Citation

Müller-Kademann, Christian, Our Economy (April 30, 2009). Available at SSRN: https://ssrn.com/abstract=1489831 or http://dx.doi.org/10.2139/ssrn.1489831

Christian Müller-Kademann (Contact Author)

Jacobs University

Campus Ring 1
Research V, Room 40
Bremen, 28759
Germany

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