The dynamics of macroeconomics are essentially those of John Maynard Keynes, and these are in collision with SFEcon at several points. Our rejection of Keynes follows from a conviction that analyses occurring in terms of monetary aggregates are deceptive 1) because money is an unreliable measure of value, and 2) aggregation is a computationally unnecessary mask upon the economic system’s inner workings.
For their part, Keynes and his followers have (without, of course, any anticipation of SFEcon) established several matters of settled science that have been cited as authoritative denunciations of this or that element of SFEcon. Use of delay mechanisms to manage income streams, the invocation of Say’s Law for price calculations, and a complete misapprehension of the consumption function each constitute an adequate basis upon which a Keynesian might reject the SFEcon project.
Our riposte is that the settling of these matters occurred prior to certain statistical unfoldings and analytic possibilities that would prove unsettling if applied. We proceed with the application.