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Was Keynes a Realist?

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  • Ralf Eriksson

Abstract

Lawson (1989a) has interpreted Keynes as a philosophical realist, adhering to the view that the economy has a constant inner structure. Against this it is claimed below that, although Keynes speaks about realism, it is not in this sense, but in the common sense way of referring to actually observable entities of an economic model. In addition, it can be shown that Keynes's views can be interpreted as instrumentalist—he emphasises characteristics such as usefulness and convenience, besides and instead of truth. Thus, truth and truthlike concepts do not, in Keynes's thinking, have the paramount position that they have in realist philosophy.

Suggested Citation

  • Ralf Eriksson, 1998. "Was Keynes a Realist?," Review of Political Economy, Taylor & Francis Journals, vol. 10(2), pages 175-197.
    • Handle: RePEc:taf:revpoe:v:10:y:1998:i:2:p:175-197
    DOI: 10.1080/09538259800000024
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    1. Moggridge, D E, 1992. "The," Journal of Economic Perspectives, American Economic Association, vol. 6(3), pages 207-209, Summer.
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    Cited by:

    1. Paul Downward, "undated". "Risk, Uncertainty and Inference in Post Keynesian Economics:A Realist Commentary," Working Papers 98-8, Staffordshire University, Business School.
    2. Bernard Walters & David Young, 2001. "Critical Realism as a Basis for Economic Methodology: A critique," Review of Political Economy, Taylor & Francis Journals, vol. 13(4), pages 483-501.
    3. Ralf Eriksson, 2006. "Eriksson on Critical Realism: a rejoinder," Review of Political Economy, Taylor & Francis Journals, vol. 18(1), pages 113-118.

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