Microfoundations Of Macroeconomics Quotes & Sayings

We don't take pictures with cameras, we take them with our hearts and minds. — Arnold Newman

In the late 1960s, the New Classical economists saw the same weaknesses in the microfoundations of macroeconomics that have motivated me. They hated its lack of rigor. And they sacked it. — George Akerlof

Some roads we travel in life can feel like the ones that might break us, but that's why God surrounds us with people who will cheer us on and wipe our tears and listen as we pour out our hearts. Because often, it's not what you say but what you do that really matters. — Melanie Shankle

I am not trying to change the world. I am just offering my gift that God gave me, and if somebody is moved by it, that's beautiful. — Lenny Kravitz

A terrible cold world of ice and death had replaced the living world we had always known. Outside there was only the deadly cold, the frozen vacuum of an ice age, life reduced to mineral crystals. [ ... ] I drove at great speed, as if escaping, pretending we could escape. Although I knew there was no escape from the ice, from the ever-diminishing remnant of time that encapsuled us. — Anna Kavan

Pixar's short films convinced Disney that if the company could produce memorable characters within five minutes, then the confidence was there in creating a feature film with those abilities in story and character development. — John Lasseter

From this failure to expunge the microeconomic foundations of neoclassical economics from post-Great Depression theory arose the "microfoundations of macroeconomics" debate, which ultimately led to a model in which the economy is viewed as a single utility-maximizing individual blessed with perfect knowledge of the future.
Fortunately, behavioral economics provides the beginnings of an alternative vision of how individuals operate in a market environment, while multi-agent modelling and network theory give us foundations for understanding group dynamics in a complex society. These approaches explicitly emphasize what neoclassical economics has evaded: that aggregation of heterogeneous individuals results in emergent properties of the group, which cannot be reduced to the behavior of any "representative individual." These approaches should replace neoclassical microeconomics completely. — Steve Keen