Microfoundations are not a “Morality Tale”

by Mario Rizzo   In his column today in the Financial Times the often-excellent Martin Wolf drops the ball. He endorses the view which he associates with J.M. Keynes “that one should not treat the economy as a morality tale.”   The third and most important lesson is that one should not treat the economy as … Continue reading Microfoundations are not a “Morality Tale”