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Robertson, Keynes and the Keynesian Revolution

In: Dennis Robertson

Author

Listed:
  • Gordon Fletcher

    (University of Liverpool Management School)

Abstract

D.H. Robertson was the erstwhile friend, colleague and collaborator of Keynes at Cambridge in the 1920s; but when Keynes changed direction in the 1930s, Robertson became the principal critic of the Keynesian Revolution. This paper examines the issues that divided them and establishes a criterion on which the issues can be judged. It is argued that whereas the fallacy of composition was an essential ingredient of Keynes’s move forward towards the General Theory; Robertson, because of the different way in which his theory developed, failed to see the significance of the concept, with the result that his argument contained a logical flaw that vitiated his attack on Keynes.

Suggested Citation

  • Gordon Fletcher, 2006. "Robertson, Keynes and the Keynesian Revolution," Palgrave Macmillan Books, in: Dennis Robertson, chapter 12, pages 164-178, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-0-230-59590-3_13
    DOI: 10.1057/9780230595903_13
    as

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