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Keynes’s Paradigm: A Theoretical Framework for Monetary Analysis

In: Money and Employment

Author

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  • Louise Davidson

Abstract

The object of our analysis is, not to provide a machine, or method of blind manipulation, which will furnish an infallible answer, but to provide ourselves with an organized and orderly method of thinking out particular problems; and, after we have reached a provisional conclusion by isolating the complicating factors one by one, we then have to go back on ourselves and allow, as well as we can, for the probable interactions of factors amongst themselves. This is the nature of economic thinking. Any other way of applying our formal principles of thought … will lead us into error. (Keynes, 1936, p. 297)

Suggested Citation

  • Louise Davidson, 1990. "Keynes’s Paradigm: A Theoretical Framework for Monetary Analysis," Palgrave Macmillan Books, in: Louise Davidson (ed.), Money and Employment, chapter 16, pages 255-278, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-349-11513-6_17
    DOI: 10.1007/978-1-349-11513-6_17
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