Re: individualism vs holism.

[Lawrence Boland <boland@xxxxxx>]

Stephen wrote:
>OK Lawrence,
>
>But I am wondering how liquidity preference fits in. And given that Keynes'
>concerns were macro, not micro, I don't see how Keynes fits in to either of
>these classifications. It would seem to me he is not an "individualist" and
>certainly not an "atomist". Perhaps as Ted suggests, he is an organicist,
>rather than a holist. Considering the distinctions which have been drawn
>between Marx and Keynes recently here, perhaps in some respects it is a
>matter of advocacy as well? That is, while Marx propagated on behalf of a
>"collectivity" in some sense, Keynes' overall vision, while of social
>justice, described "mass" behaviour within markets. So in that respect he is
>not an individualist, but he is also not a "collectivist", as that
>presupposes advocacy on behalf of the "collectivity"?

I am lost here. How is " liquidity preference" a problem for methodological
individualism? I could see how it might by a problem of all forms of holism.

All that methodological individualism claims is that _things_ do not
decide, only individuals decide. That an individual may decide hold some
money rather than an asset for purposes of liquidity preference does not
seem to me to violate methodological individualism.

Again, I do not see Keynes denying the micro but only saying it is not enough.
And as I have said, methodological individualism, as opposed to
psychologistic individualism, does not deny all macro phenomena.

LB
Lawrence A. Boland, F.R.S.C
Department of Economics, Simon Fraser University
Burnaby BC Canada V5A-1S6
ph: 604-291-4487, web: www.sfu.ca/~boland