A macro economy as an ecology of plans

B-Tier
Journal: Journal of Economic Behavior and Organization
Year: 2012
Volume: 82
Issue: 2
Pages: 433-444

Score contribution per author:

2.011 = (α=2.01 / 1 authors) × 1.0x B-tier

α: calibrated so average coauthorship-adjusted count equals average raw count

Abstract

Standard macro theories reflect a choice-theoretic orientation wherein aggregate variables are treated as acting directly on one another. Macro phenomena are thus reduced to the same order of simplicity as micro phenomena; macro variables differ from micro variables only by their larger size. In contrast, this paper treats the relationship between micro and macro as non-scalable. Macro phenomena emerge through micro interaction and are of a higher order of complexity than micro phenomena. Rather than reducing macro to micro through scalar multiplication, macro phenomena supervene on micro interaction and are not themselves objects of direct action. A macro economy is treated as a complex ecology of plans that constitute a non-equilibrium process of spontaneous ordering.

Technical Details

RePEc Handle
repec:eee:jeborg:v:82:y:2012:i:2:p:433-444
Journal Field
Theory
Author Count
1
Added to Database
2026-01-29