Legacy Project, Inc.

The Nathan Cummings Foundation

 

Legacy Project, Inc.

(New York, NY)

Total Award: $10,000 over 1 year

Beyond “Rational Expectations”: Toward a Reconstruction of Macroeconomics and Policy Analysis

www.legacy-project.org

To support the first step in the research and writing of Beyond "Rational Expectations": Toward a Reconstruction of Macroeconomics and Policy Analysis, a book whose purpose is to reconstruct macroeconomics and policy analysis without using the "Rational Expectations Hypothesis" (REH). This project is timely in view of the nearly universal acceptance of REH by economists and the REH's failure to explain observed market dynamics and experiential consequences of government policies.