Theory, method and mode of thought in Keynes'sGeneral Theory

Journal of Economic Methodology 10 (3):307-327 (2003)
In my 1983 book, Macroeconomics after Keynes, I claimed that much that was original in Keynes was to be found not at the level of theory but in his method. Shortly afterwards, Sheila Dow's book Macroeconomic Thought (1985) introduced those of us who are not specialist methodologists to what she called the ?mode of thought?. In that book, and subsequently, it has become clear that differences in approach between those who take their inspiration from Keynes and Kalecki and those I shall loosely describe as neoclassicists lie at the level of mode of thought. Almost all post?Keynesians say that Keynes's General Theory is founded on a concern with time, uncertainty and organicism ? features of Keynes's mode of thought. Yet, as far as I know, no one has shown precisely what the relationships are between the identifiable aspects of Keynes's mode of thought and his method and theory. This is the task that this paper sets itself. I identify four key theoretical contributions and their corollaries, and show how they are related to the deeper levels of method and mode of thought. This exercise is contrasted with the three?level structure of typical neoclassical macroeconomic theory. The underlying purpose is to help modern theory develop in a fruitful way.
Keywords No keywords specified (fix it)
Categories (categorize this paper)
DOI 10.1080/1350178032000110873
 Save to my reading list
Follow the author(s)
My bibliography
Export citation
Find it on Scholar
Edit this record
Mark as duplicate
Revision history Request removal from index
Download options
PhilPapers Archive

Upload a copy of this paper     Check publisher's policy on self-archival     Papers currently archived: 24,470
External links
Setup an account with your affiliations in order to access resources via your University's proxy server
Configure custom proxy (use this if your affiliation does not provide a proxy)
Through your library
References found in this work BETA

No references found.

Add more references

Citations of this work BETA

No citations found.

Add more citations

Similar books and articles
Brian Weatherson (2002). Keynes, Uncertainty and Interest Rates. Cambridge Journal of Economics 26 (1):47-62.
T. Francis (2011). Review Essays: Keynes and Macroeconomics After 70 Years. Philosophy of the Social Sciences 41 (2):269-277.
Rod O'Donnell (1990). The Epistemology of J. M. Keynes. British Journal for the Philosophy of Science 41 (3):333-350.

Monthly downloads

Added to index


Total downloads

13 ( #333,278 of 1,925,583 )

Recent downloads (6 months)

3 ( #254,998 of 1,925,583 )

How can I increase my downloads?

My notes
Sign in to use this feature

Start a new thread
There  are no threads in this forum
Nothing in this forum yet.