Michael Shute

An interpretation of Bernard Lonergan's argument for the Exchange Structure Model as it was originally constructed in "For a New Political Economy." The text reveals the steps whereby Lonergan established a fully dynamic foundation for macroeconomics. The author argues that Lonergan's two-circuit approach offers a paradigm shift in the procedures of economic modeling.

Economics, Philosophy of Economics, Methodology economic exchange structure models, marcoeconomic dynamics. Lonergan' economics