[EMAIL PROTECTED] wrote: > > Micro economics, basically price theory, is so called because it deals with > market equilibriations based on small scale interactions--sales, > purchases--that are aggregated. Macro economics concerns government economic > activities designed to regulate unhappy effects of otherwise unchecked > markets--it was due to Keynes in the main. Many (most?) economists don't even believe in macroeconomics or aggregates anymore (that's what I was taught in undergrad economics), thinking that the aggregate categories of the economy have been reduced to individual behavior (microtheory). Microeconomics can and does explain everything without recourse to the woolly-headed, ontologically non-existent categories of macro. However, they, the microeconomists do not apply their reductionism consisently since they still talk about macro entities like "family","firm" and even "individual", they apply it when and where it suits them. I can't remember who said it but there'e the saying you have to accept Keynes before you can accept Marx. Sam Pawlett
