The major theoretical insight of Keynes’ General Theory is that aggregate quantities describing the state of an economy as a whole are irreducible to arithmetic summations of individual decisions. This breaks with the logic of classical political economy and establishes macroeconomics as the...

In this paper, we cover some principles and guidelines that are useful for modelling and interpreting data associated with highly complex physical phenomena such as occur in multidisciplinary fields. We compare and contrast the theoretical and statistical-empirical modelling paradigms and...