▲ | willguest 3 days ago | |
This is late, probably too late, but if you really want to get into the weeds of this, here is a better summary that what I can produce, from a paper that explains it better than I can: "The model is a work of fiction based on the tacit and false assumption of frictionless barter. Attempting to apply such microeconomic foundations to understand a monetary economy means that mistakes in reasoning are inevitable." (p.239) | ||
▲ | DrewADesign 3 days ago | parent [-] | |
A paper that criticizes microfoundations counters what I said? Later. |