ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

Abhay PetheSubscribe to Abhay Pethe

Expectations, Macro-Foundations, Policy Ineffectiveness and Culture-A Methodological Detour

Ineffectiveness and Culture A Methodological Detour Abhay Pethe An attempt has been made in this paper to critically albeit briefly look at the treatment of 'expectations' in mainstream economics. It is argued that RATEX in conjunction with new classical assumptions provide a heady mixture leading to many a nonsensical proposition. A novel way of looking at the micro-macro debate is also suggested. It is pointed out that in the context of modelling dynamic aspects, the crucial aspect of learning (culture constrained or otherwise) has been completely bypassed. The paper to state the obvious has been written in a methodological vein.

Innumeracy and Economic Behaviour-A Comment

enough not to permit the thought of the future to make it even more unbearable. The only escape from 'grinding poverty' and degradation is in drink' and 'dance', which apart from bringing some joy, help to regenerate the spirit of the community, and create a sense of oneness.

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