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Methodological Individualism

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  1. The Use of Methodological Individualism in Economics
  2. Critique of Methodological Individualism

?Methodological Individualism' is an integral part in Economics and originates within the Austrian School of Economics. However, there are many different schools of thought for individualism; this paper will concentrate on the Austrian School of thought. The likes of Kenneth Arrow and Alan Kirman have expressed the suggestion that the problem with economics might be its methodological individualism. On the flip side, however, there is Coleman and Boudon who argue that methodological individualism is the solution and not the problem. This paper will briefly outline the concept of ?Methodological Individualism' and illustrate an example that explains its purpose in economics then conclude with a critique.

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