Methodology for a New Microeconomics: The Critical Foundations

This book offers a critical examination of the neoclassical model which typically fails to include an explicit stability analysis. The author demonstrates that much of the sophisticated theoretical literature over the last thirty years can be understood as ad hoc attempts to overcome the deficiencies of models that are limited by the absence of stability analysis. At the end of the book the author explains what we must do to update undergraduate theory, and above all, to develop a truly individualist version of microeconomics that is both complete and consistent with the methodological principles of all neoclassical models.