An Introduction to the Lucas Papers

In the following weeks my purpose of primary importance is to form a coherent view on the Lucas Papers held at Rubenstein Library, Duke University. I have the photocopies of all the relevant boxes and folders, so the work can start now. A huge amount of unpublished drafts, notes and letters.

Of course, I have a pre-given (i.e. previously formed) idea as to the papers and a unique view from which I will try to approach the drafts. This is methodology. For me Lucas is a realist economist, so I am interested in finding some details that can help us to get to know him as a scientist committed to understanding socio-economic reality. It is shocking how much ignorance contemporary mainstream economics is forced to face today. The key to clarifying the subtle relationship between mainstream models and reality is to be found in the works of Lucas I strongly believe. One cannot hope to have an in-depth understanding of, say, the grounding principles of RBC-theory without understanding the methodology of new classical macroeconomics.

So for a while I will keep posting on the Lucas Papers. This is the forum where I will share my early thoughts and conjectures.

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