only have the business models, modes of organization of production and
innovation activities, and –accordingly- policies changed drastically, so have the
economic models to determine the policy interventions. In his 1957 paper, Solow
writes: “As long as we insist on practicing macro-economics we shall need
aggregate relationships”. After the burial of the representative agent and the birth
of heterogeneous agents, such undue aggregation is no longer desirable.
Moreover, with the advent of computational means to simulate large populations
of heterogeneous, interacting agents, aggregation is also no longer required.