Lucas critique

proper noun

The argument that it is naive to try to predict the effects of a change in economic policy entirely on the basis of relationships observed in historical data, especially when it is highly aggregated.

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Meanings

proper nounthe Lucas critique
  1. economicsThe argument that it is naive to try to predict the effects of a change in economic policy entirely on the basis of relationships observed in historical data, especially when it is highly aggregated.

Origin

Named after American economist Robert Lucas.

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Cite this entry
APA

Lucas critique. (n.d.). In WatkinsX Dictionary. Retrieved November 4, 2026, from https://dictionary.watkinsx.com/word/Lucas%20critique

MLA

“Lucas critique.” WatkinsX Dictionary, https://dictionary.watkinsx.com/word/Lucas%20critique. Accessed November 4, 2026.

Chicago

WatkinsX Dictionary, s.v. “Lucas critique,” accessed November 4, 2026, https://dictionary.watkinsx.com/word/Lucas%20critique.

Source: Lucas critique on Wiktionary, CC BY-SA 4.0.