ABSTRACT
The micro-macro relation has always been a main research subject in macroeconomics, and post-Keynesian theorists deal with this interaction in a very distinctive way. Their concern is not to develop the microfoundations of macroeconomics or even the macrofoundations of microeconomics, but of searching to identify the mutual influences of both fields, using microeconomics to shed light on motives, choices and strategies and macroeconomics to understand possibilities, constraints and actual developments. Professor Chick’s work has been among the leading post-Keynesian contributions to share this view. In her Macroeconomics after Keynes, for instance, she states:
The relationship of the observed behaviour of an aggregate like Firms or Households is not easily related to the plans or actions of its component agents. One problem arises from the potential conflicts between agents within an aggregate, for obviously, the behaviour of the aggregate will depend on the manner in which those conflicts are resolved.
