nach oben

Erschienen in:

2021 | OriginalPaper | Buchkapitel

4. Keynes’s Methodology of Criticism: Probability and Classical Economic Theory. Logical Fallacies: The Introduction of the Tacit Assumptions of Homogeneity and Independence

verfasst von : Anna M. Carabelli

Erschienen in: Keynes on Uncertainty and Tragic Happiness

Verlag: Springer International Publishing

Einloggen

Aktivieren Sie unsere intelligente Suche, um passende Fachinhalte oder Patente zu finden.

search-config

KI-gestützte Suche

Aus

Abstract

This chapter deals with Keynes’s actual way of criticising the classical economic theory compared with his own way of reasoning in A Treatise on Money and the General Theory. This chapter shows the persistence, continuity and coherence of Keynes’s methodological approach in the search for logical fallacies and tacit assumptions. He constantly detects logical fallacies and paradoxes both in probability and in economic reasoning (the additive fallacy, the fallacy of composition).

Sie haben noch keine Lizenz? Dann Informieren Sie sich jetzt über unsere Produkte:

Springer Professional "Wirtschaft+Technik"

Online-Abonnement

Mit Springer Professional "Wirtschaft+Technik" erhalten Sie Zugriff auf:

über 102.000 Bücher
über 537 Zeitschriften

aus folgenden Fachgebieten:

Automobil + Motoren
Bauwesen + Immobilien
Business IT + Informatik
Elektrotechnik + Elektronik
Energie + Nachhaltigkeit
Finance + Banking
Management + Führung
Marketing + Vertrieb
Maschinenbau + Werkstoffe
Versicherung + Risiko

Jetzt Wissensvorsprung sichern!

Jetzt informieren

Springer Professional "Wirtschaft"

Online-Abonnement

Mit Springer Professional "Wirtschaft" erhalten Sie Zugriff auf:

über 67.000 Bücher
über 340 Zeitschriften

aus folgenden Fachgebieten:

Bauwesen + Immobilien
Business IT + Informatik
Finance + Banking
Management + Führung
Marketing + Vertrieb
Versicherung + Risiko

Jetzt Wissensvorsprung sichern!

Jetzt informieren

Vorheriges Kapitel Complexity and Incommensurability: Multidimensional, Heterogeneous and Interdependent Magnitudes. Probability and Economic Magnitudes

Nächstes Kapitel Uncertainty as the Legacy of Greek Tragedy: Uncertainty as Tragic Choice

On Keynes’s earlier attitude towards money theory of value, see his essay, on ‘The Economic Consequences of W. Churchill’, CW IX: especially 208–209 (this point is stressed by Wells 1986, 12–14) and in A Treatise on Money, CW V, 120–124, 137, 149–153; see also Rotheim 1981, Chick 1985 and Weeks 1988.

See also Downward et al. (2002) for a review of the critical realist critique of the methods of analysis. They argue that critical realist epistemology, derived from its open-systems ontology, is unnecessarily dismissive in rejecting research methods that draw inferences from stable empirical regularities and patterns. Their argument draws upon their interpretation of Keynes's philosophical explanations of decision-making and probability and on behavioural and institutional explanations of emerging and stable institutions to establish a role for a plurality of quantitative and qualitative approaches to critical realist research—an interpretation of Keynes which is equally to be criticised.

Asimakopulos, A. 1988. The Aggregate Supply Function and the Share Economy. In ed. O.F. Hamouda and J.N. Smithin (eds.), vol. II, 70–80.

Bhaskar, R. 2008. A Realist Theory of Science. London: Routledge.

Boland, L.A. 1989. The Methodology of Economic Model Building. London: Routledge.

Brown-Collier, E. 1985. Keynes’ View of an Organic Universe. Review of Social Economy 13: 14–23.

Brown-Collier, E., and R. Bausor. 1988. The Epistemological Foundations of The General Theory. Scottish Journal of Political Economy 35 (3) (August): 227–241.

Brothwell, J. 1988. The General Theory After Fifty Years—Why Are We not All Keynesians Now? In J.M. Keynes in Retrospect. The Legacy of the Keynesian Revolution, ed. J. Hillard, 45–63. Aldershot: Edward Elgar.

Carabelli, A.M. 1985. Keynes on Cause, Chance and Possibility. In Keynes's Economics: Methodological Issues, ed. T. Lawson and H. Pesaran, 151–180. New York: M. E. Sharpe.

Carabelli, A.M. 1988. On Keynes's Method. London: Macmillan.

Carabelli, A.M. 1991. The Methodology of the Critique of the Classical Theory: Keynes on Organic Interdependence. In Keynes and Philosophy: Essays on the Origin of Keynes's Thought, ed. B. Bateman and J. B. Davis, 104–125. Aldershot: Elgar.

Carabelli, A.M. 1992. Organic Interdependence and Keynes’s Choice of Units in the General Theory. In The Philosophy and Economics of J.M. Keynes, ed. B. Gerrard and J. Hillard, 3–31. Aldershot: Elgar.

Carabelli, A.M. 1994. Keynes on Mensuration and Comparison. In Perspectives in the History of Economic Thought, ed. K. Vaughn, 204–238. Aldershot: Elgar.

Carabelli, A.M. 1995. Uncertainty and Measurement in Keynes: Probability and Organicness. In Keynes, Knowledge and Uncertainty, ed. S. Dow and J. Hillard, 137–160. Aldershot: Elgar.

Carabelli, A.M. 2013a. A New Methodological Approach to Economic Theory: What I Have Learnt from 30 Years of Research on Keynes. In Keynes’s General Theory for Today: Contemporary Perspectives, ed. J. Jespersen and M. O. Madsen, 79–97. Aldershot: Elgar.

Carabelli, A.M. 2013b. Keynes: un nuovo metodo? In Pensare il capitalismo- Nuove prospettive per l'Economia Politica, ed. Elisabetta Basile and Giorgio Lunghini e Franco Volpi. Milano: Franco Angeli.

Carabelli, A.M., and M.A. Cedrini. 2011. The Economic problem of happiness. Keynes on happiness and economics. Forum for Social Economics 40 (3): 335–359.

Carabelli, A.M., and M.A. Cedrini. 2014. Chapter 18 of the General Theory “Further Analysed”. Economics as a Way of Reasoning. Cambridge Journal of Economics 38 (1): 23–47.

Chick, V. 1985. Time and the Wage-unit in the Method of The General Theory: History and Equilibrium. In Keynes' Economics: Methodological Issues, ed. T. Lawson and H. Pesaran, 195–208. London: Croom Helm.

Davis, J.B. 1989. Keynes and Organicism. Journal of Post Keynesian Economics 12: 308–315.

Downward P., J.H. Finch, and J. Ramsey. 2002. Critical Realism, Empirical Methods and Inference: A Critical Discussion. Cambridge Journal of Economics 26 (4): 481–500.

Fitzgibbons, A. 1988. Keynes' Vision: A New Political Economy. Oxford: Clarendon Press.

Gotti, M. 1994. The ‘General Theory’ as an Open-ended Work. In John Maynard Keynes: Language and Method, ed. A. Marzola and F. Silva, 155–191. Cheltenham: Elgar.

Gotti, M. 2009. Aspects of Individuality in J.M. Keynes’s General Theory. In Commonality and Individuality in Academic Discourse, ed. M. Gotti, 279–302. Bern: Peter Lang.

Greenstein, C.H. 1978. Dictionary of Logical Terms and Symbols. New York: Van Nostrand Reinhold Co.

Grunberg, E. 1966. The Meaning and Scope of External Boundaries in Economics. In The Structure of Economic Science, ed. S.R. Krupp, 148–165. Englewood Cliffs, NJ: Prentice-Hall.

Grunberg, E. 1978. “Complexity” and “Open Systems” in Economic Discourse. Journal of Economic Issues 12 (3) (September): 541–560.

Hamblin, C.L. 1970. Fallacies. London: Methuen.

Lawson, T. 1987. The Relative/Absolute Nature of Knowledge and Economic Analysis. Economic Journal (December): 951–970.

Lawson, T. 1989. Realism and Instrumentalism in the Development of Econometrics. Oxford Economic Papers 41 (1) (January): 236–258.

Lawson, T. 2019. The Nature of Social Reality. Issues in Social Ontology. London: Routledge.

Mongin, Ph. 1988. Le réalism des hypotheses et la Partial Interpretation View. Philosophy of Social Science 18: 281–325.

Morgenbesser, S. 1969. The Realist-Instrumentalist Controversy. In Philosophy, Science and Method, ed. Morgenbesser-Suppe-White, 200–218. New York: St. Martin Press.

Moore, G.E. 1906. The Nature and Reality of Objects of Perceptions. Proceedings of the Aristotelian Society 6: 68–127.

Nagel, E. 1963. Assumptions in Economic Theory. American Economic Review, Papers and Proceedings (May) 211–219.

O’Donnell, R.M. 1989. Keynes: Philosophy, Economics and Politics: The Philosophical Foundations of Keynes’s Thought and their Influence on His Economics and Politics. London: Macmillan.

Putnam, H. 1981. Reason, Truth and History. Cambridge University Press.

Reid, T. 1764 [1997]. An Inquiry into the Human Mind on the Principles of Common Sense. Edinburgh, Edinburgh University Press.

Rotheim, R.J. 1981. Keynes's Monetary Theory of Value (1933). Journal of Post Keynesian Economics 3 (4) (Summer): 568–585.

Surrey, M. 1988. The Great Recession 1974–84: Is a 'Keynesist' Approach Plausible? In J. Hillard (ed.), 107–124.

Walker, D.A. 1982. Keynes as a Historian of Economic Thought: The Biographical Essays on Neoclassical Economists. History of Political Economy 17 (2): 159–186.

Weeks, J. 1988. Value and Production in the General Theory. In J.M Keynes in Retrospect, ed. J. Hillard, 185–210. Cheltenham: Elgar.

Wells, P. 1986. “Mr. Churchill” and The General Theory. In International Monetary Problems and Supply-Side Economics, ed. J.S. Cohen and G.C. Harcourt, 8–27. London: Macmillan.

Winslow, E.G. 1986. “Human Logic” and Keynes's Economics. Easter Economic Journal 12 (October–December): 413–430.

Winslow, E.G. 1989. Organicism and Uncertainty. Economic Journal 99 (4) (December): 1173–1183.

Titel: Keynes’s Methodology of Criticism: Probability and Classical Economic Theory. Logical Fallacies: The Introduction of the Tacit Assumptions of Homogeneity and Independence
verfasst von: Anna M. Carabelli
Verlag: Springer International Publishing
Buch: Keynes on Uncertainty and Tragic Happiness
Print ISBN: 978-3-030-75664-2

Electronic ISBN: 978-3-030-75665-9

Copyright-Jahr: 2021
DOI: https://doi.org/10.1007/978-3-030-75665-9_4