As a complement to Hoover (2012), I argue that the “General Equilibrium” (in particular, “the disequilibrium theory”) and the “Aggregation” (i.e. large-scale models) microfoundational programs were in no way incompatible, while both opposed to New Classical Economics. In this regard,...

Warren Samuels was an influential proponent of methodological pluralism in economics. This short paper discusses his understanding of methodological pluralism, and argues that it is based on three distinct components: (1) his critique of the idea that theories have epistemic foundations and his...

Although involved in projects of influent institutions like the Cowles Commission, the NBER, and the Michigan Survey Research Center (SRC), George Katona, the “pioneer student and chief collector of consumer anticipations data” (Tobin, 1959, p. 1) is virtually absent from accounts of the...

The interaction of Cowles Commission and Milton Friedman the was a confrontation of two research programs, a Walrasian versus a Marshallian, each claiming to offer the best scientific approach for empirical economics. It was not only simultaneous equations approach versus partitioning, abstract...

We revisit the Cournot–Bertrand debate in the light of Cournot, Edgeworth and Launhardt, tracing back to Launhardt the origin of price competition in duopoly models with constant returns to scale. Then, we discuss the formalisation of consumer utility function for differentiated products,...

Lawrence R. Klein can well be said to have created the field of macroeconometric modelling and his international influence started at an early stage. The article offers scattered observations on Klein’s early years from undergraduate study to the University of Pennsylvania in 1958. Klein was...

Irving Fisher long advocated inflation indexed bonds. I prove in the context of a multicommodity CAPM world that the best welfare improving bond pays the minimum money needed to achieve the same utility, and not the minimum needed to buy an ideal commodity bundle. Irving Fisher also developed...

Spanish Abstract: El objetivo de este trabajo es presentar de manera detallada los modelos matemáticos de Frisch y Kalecki, mostrando los problemas conceptuales y analíticos que la literatura reciente ha señalado. La linealización del sistema de ecuaciones de los modelos de Frisch y Kalecki,...

Lawrence R. Klein was the father of macro-econometric modeling, the scientific practice that dominated macroeconomics throughout the second half of the twentieth century. Therefore, understanding how Klein developed his identity as a macro-econometrician and how he conceived and forged...

In Jan Tinbergen and the Rise of Economic Expertise, Erwin Dekker discusses the political context surrounding John Maynard Keynes's critique of Jan Tinbergen's 1939 statistical report on business cycles for the League of Nations. Keynes was disappointed that Tinbergen's report was politically...