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John R. Commons and John Maynard Keynes on Economic History and Policy: The 1920s and Today

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  • Charles J. Whalen

Abstract

In a pair of 1925 lectures, John Maynard Keynes described world economic history with reference to a classification of stages developed by John R. Commons. This article examines Keynes’s two 1925 lectures in the context of Commons’s writings. It spotlights lesser-known aspects of Commons’s scholarship and helps clarify ambiguities in Keynes’s two addresses. It also identifies a key document, written by Commons, upon which Keynes relied when developing his presentations. In addition, the article explains how the work of Commons and Keynes in the 1920s has relevance for the contemporary development of evolutionary Keynesianism (which can also be called Post-Keynesian Institutionalism).

Suggested Citation

  • Charles J. Whalen, 2008. "John R. Commons and John Maynard Keynes on Economic History and Policy: The 1920s and Today," Journal of Economic Issues, Taylor & Francis Journals, vol. 42(1), pages 225-242, March.
    • Handle: RePEc:mes:jeciss:v:42:y:2008:i:1:p:225-242
    DOI: 10.1080/00213624.2008.11507123
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    Cited by:

    1. Steven Kates, 2011. "Subverting Say's Law. Harlan McCracken and the Commons Keynes connection," Chapters, in: Charles J. Whalen (ed.), Financial Instability and Economic Security after the Great Recession, chapter 1, pages 15-27, Edward Elgar Publishing.
    2. Bruce E. Kaufman, 2010. "Institutional Economics and the Minimum Wage: Broadening the Theoretical and Policy Debate," ILR Review, Cornell University, ILR School, vol. 63(3), pages 427-453, April.
    3. Pavlina R. Tcherneva, 2011. "Fiscal Policy: Why Aggregate Demand Management Fails and What to Do about It," Economics Working Paper Archive wp_650, Levy Economics Institute.
    4. Glen Atkinson & Charles J. Whalen, 2011. "Futurity: cornerstone of Post Keynsian institutionalism," Chapters, in: Charles J. Whalen (ed.), Financial Instability and Economic Security after the Great Recession, chapter 3, pages 53-74, Edward Elgar Publishing.
    5. Yefimov, Vladimir, 2009. "Институциональный Подход В Экономической Науке И К Экономической Науке [The institutional approach in economics and to economics]," MPRA Paper 48718, University Library of Munich, Germany.
    6. Yefimov, Vladumir, 2011. "Дискурсивный Анализ В Экономике: Пересмотр Методологии И Истории Экономической Науки. Часть 2 - Иная История И Современность [Discourse analysis in economics: methodology and history of economics r," MPRA Paper 49069, University Library of Munich, Germany.

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