Introduction: A Bridge Between Past and Present
Abstract assumptions on the typical agent are often the foundations on which microeconomics and macroeconomics are built. However, a minority of economists tried to anchor economic knowledge to the observation of aggregate phenomena. The search for empirical laws or regularities became the focus that justified strictly empirical research, making abstract analysis ancillary to the whole knowledge-gaining process. This book describes attempts to anchor economic knowledge to invariant empirical laws.
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