Methodological individualism | criticisms

Criticisms

Economist Mark Blaug has criticized over-reliance on methodological individualism in economics, saying that "it is helpful to note what methodological individualism strictly interpreted [...] would imply for economics. In effect, it would rule out all macroeconomic propositions that cannot be reduced to microeconomic ones [...] this amounts to saying goodbye to almost the whole of received macroeconomics. There must be something wrong with a methodological principle that has such devastating implications".[3]

The ironic thing about this criticism, however, is that such an implication is not at all rejected by those who support methodological individualism, and in fact methodological individualism is often used as a method of critiquing macroeconomic laws. This criticism cannot be effectively used against those who already reject much of mainstream macroeconomic law.[4]

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