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The Cacophony within Law and Macroeconomics

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Koppl, R. The Cacophony within Law and Macroeconomics. Journal of Contextual Economics – Schmollers Jahrbuch, 99999(), 1-44. https://doi.org/10.3790/schm.2024.375231
Koppl, Roger "The Cacophony within Law and Macroeconomics" Journal of Contextual Economics – Schmollers Jahrbuch 99999., 2025, 1-44. https://doi.org/10.3790/schm.2024.375231
Koppl, Roger (2025): The Cacophony within Law and Macroeconomics, in: Journal of Contextual Economics – Schmollers Jahrbuch, vol. 99999, iss. , 1-44, [online] https://doi.org/10.3790/schm.2024.375231
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The Cacophony within Law and Macroeconomics

Koppl, Roger

Journal of Contextual Economics – Schmollers Jahrbuch, Online First : pp. 1–44

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Duncker & Humblot
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https://doi.org/10.3790/schm.2024.375231
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Multiple languages
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44
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open-access CC BY 4.0
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Roger Koppl, Whitman School of Management, Syracuse University, USA

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Abstract

The emerging field of law and macroeconomics is dominated by Keynesianism, which is used to defend interventionism. Law fluctuates with economic fluctuations. I defend an alternative approach that resists fluctuations in the law and supports the rule of law. This approach emerges from old-fashioned monetary theory as exemplified by the work of F. A. Hayek and Leland Yeager. I show how the tools of complexity economics may be used to build on the foundations of such old-fashioned monetary theory. These tools are helpful in crafting criticisms of interventionist policies and in defending the vital importance of the rule of law.

Table of Contents

Section Title Page Action Price
Roger Koppl: The Cacophony within Law and Macroeconomics 1
Introduction 1
1. Keynesian Law and Macroeconomics 4
2. The Logical Problem of Law and Macroeconomics 5
3. The State of Macroeconomics 11
4. The Past of Change, Creativity, and Cacophony in Macroeconomics 17
5. Some Possible Futures for Change, Creativity, and Cacophony in Macroeconomics 19
6. Closing Remarks 35
References 36

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