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“Mr Keynes and the ‘Classics’” Again: A Methodological Enquiry

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  • Giuseppe Fontana

Abstract

Keynes is usually interpreted as proposing, or intending to propose an original theory of employment and income. However, this paper shows that Keynes was actually proposing more than a theoretical alternative. He saw himself breaking away from the ‘Classics’ at the connected levels of theory and methodology. This paper thus argues that modern economists going back to the old story of the relation between Mr. Keynes and the ‘Classics’ can learn something about several controversial issues in macroeconomics and methodology like for instance the role of experiments and formal arguments in economics. Copyright Springer Science+Business Media, Inc. 2006

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  • Giuseppe Fontana, 2006. "“Mr Keynes and the ‘Classics’” Again: A Methodological Enquiry," Atlantic Economic Journal, Springer;International Atlantic Economic Society, vol. 34(2), pages 161-174, June.
    • Handle: RePEc:kap:atlecj:v:34:y:2006:i:2:p:161-174
    DOI: 10.1007/s11293-006-9003-4
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    References listed on IDEAS

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    1. Giuseppe Fontana, 2000. "Post Keynesians and Circuitists on Money and Uncertainty: An Attempt at Generality," Journal of Post Keynesian Economics, Taylor & Francis Journals, vol. 23(1), pages 27-48, September.
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    5. Chick, Victoria & Dow, Sheila C, 2001. "Formalism, Logic and Reality: A Keynesian Analysis," Cambridge Journal of Economics, Cambridge Political Economy Society, vol. 25(6), pages 705-721, November.
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    8. Thomas I. Palley, 1996. "Post Keynesian Economics," Palgrave Macmillan Books, Palgrave Macmillan, number 978-0-230-37412-6.
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    10. Victoria Chick, 1983. "Macroeconomics after Keynes: A Reconsideration of the General Theory," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262530457, December.
    11. Binmore, Ken, 1999. "Why Experiment in Economics?," Economic Journal, Royal Economic Society, vol. 109(453), pages 16-24, February.
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    13. Paul Downward & John H. Finch & John Ramsay, 2002. "Critical realism, empirical methods and inference: a critical discussion," Cambridge Journal of Economics, Cambridge Political Economy Society, vol. 26(4), pages 481-500, July.
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    Cited by:

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    2. P Arestis & A Mihailov, 2009. "Flexible Rules cum Constrained Discretion: A New Consensus in Monetary Policy," Economic Issues Journal Articles, Economic Issues, vol. 14(2), pages 27-54, September.

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    More about this item

    Keywords

    B30; B41; E12;
    All these keywords.

    JEL classification:

    • B30 - Schools of Economic Thought and Methodology - - History of Economic Thought: Individuals - - - General
    • B41 - Schools of Economic Thought and Methodology - - Economic Methodology - - - Economic Methodology
    • E12 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - Keynes; Keynesian; Post-Keynesian; Modern Monetary Theory

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