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1 octobre 2020
- handle: 10670/1.pz7aux
- hal: hal-03185244
- doi: 10.1215/00182702-8671843
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info:eu-repo/semantics/altIdentifier/doi/10.1215/00182702-8671843
Mots-clés
Robert Solow Milton Friedman Methodology of economics Walrasian Program Marshallian Economics Macroeconomics History of macroeconomics Axiomatics Cournot Augustin Complex models Simple models B - History of Economic Thought, Methodology, and Heterodox Approaches/B.B2 - History of Economic Thought since 1925/B.B2.B22 - Macroeconomics B - History of Economic Thought, Methodology, and Heterodox Approaches/B.B3 - History of Economic Thought: Individuals/B.B3.B31 - Individuals B - History of Economic Thought, Methodology, and Heterodox Approaches/B.B4 - Economic Methodology/B.B4.B41 - Economic Methodology B - History of Economic Thought, Methodology, and Heterodox Approaches/B.B2 - History of Economic Thought since 1925Sujets proches
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Matthieu Ballandonne et al., « Robert Solow’s Non-Walrasian Conception of Economics », HAL-SHS : économie et finance, ID : 10.1215/00182702-8671843
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Résumé
The neoclassical synthesis has been defined as a bridge between Keynesian theory and Walrasian general equilibrium theory. The aim of this article is to show that founders of the neoclassical synthesis were not homogenous in their appraisal of the importance of Walrasian theory. To do so, we focus on Solow’s contributions as a case study and examine the history of his lifelong criticism of what he called “axiomatics.” According to Solow, the axiomatic approach aims at founding economics on one general and complex model based on first principles or axioms. In contrast, Solow advocated the use of a diversity of simple and partial models, which have practical utility, are realistic in their crucial assumptions, consider institutions and the evolving nature of the economy, and rely on common sense microfoundations. We conclude by suggesting that Solow can be characterized as Cournotian.