Author(s)

Christian Müller

Zurich University of Applied Sciences, School of Management and Law,Switzerland.

I discuss the strengths and weaknesses of the current predominant approach to macroeconomic modelling of asset prices and suggest an alternative perspective. This alternative rests on the insight that the economy is the result of individual decisions. The industry standard has it, however, that individual action is ruled by objective, general laws instead. Changing the point of view allows to reconcile numerous puzzles and paves the way for a promising new research agenda.

Fundamental Uncertainty, Subjectivity, Financial Crisis

C. Müller, "Our Economy," Modern Economy, Vol. 2 No. 4, 2011, pp. 569-574. doi: 10.4236/me.2011.24063.