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Carabelli & de Vecchi on Keynes and Hayek

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  • William Butos
  • Roger Koppl

Abstract

Carabelli & De Vecchi dispute competing interpretations of Keynes and Hayek, including ours. They mistakenly impute to us the view that Keynes was inconsistent. They deny that Keynes had a subjectivist theory of expectations by noting his rationalist philosophy. We agree that Keynes had a rationalist philosophy, but deny that this implies an objectivist theory of economic expectations. We persist in viewing Keynes as a subjectivist regarding expectations. This short paper reviews these issues and a few other contentious matters regarding Keynes and Hayek.

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Bibliographic Info

Article provided by Taylor & Francis Journals in its journal Review of Political Economy.

Volume (Year): 16 (2004)
Issue (Month): 2 ()
Pages: 239-247

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Handle: RePEc:taf:revpoe:v:16:y:2004:i:2:p:239-247

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References

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  1. Anna Carabelli & Nicolo De Vecchi, 2001. "Hayek and Keynes: From a common critique of economic method to different theories of expectations," Review of Political Economy, Taylor & Francis Journals, vol. 13(3), pages 269-285.
  2. Roger Koppl & William Butos, 2001. "Confidence in Keynes and Hayek: Reply to Burczak," Review of Political Economy, Taylor & Francis Journals, vol. 13(1), pages 81-86.
  3. William Butos & Roger Koppl, 1993. "Hayekian expectations: Theory and empirical applications," Constitutional Political Economy, Springer, vol. 4(3), pages 303-329, September.
  4. Roger Koppl, 1991. "Retrospectives: Animal Spirits," Journal of Economic Perspectives, American Economic Association, vol. 5(3), pages 203-210, Summer.
  5. William N. Butos & Roger G. Koppl, 1995. "The Varieties of Subjectivism: Keynes and Hayek on Expectations," Method and Hist of Econ Thought 9505001, EconWPA, revised 17 May 1995.
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Cited by:
  1. Anna Carabelli & Nicolo De vecchi, 2004. "On Hayek and Keynes once again: a reply to Butos & Koppl," Review of Political Economy, Taylor & Francis Journals, vol. 16(2), pages 249-256.
  2. William Butos, 2003. "Knowledge Questions: Hayek, Keynes and Beyond," The Review of Austrian Economics, Springer, vol. 16(4), pages 291-307, December.
  3. Miguel A. DurĂ¡n, 2005. "The problems of the the Co-Ordination problem," ThE Papers 05/09, Department of Economic Theory and Economic History of the University of Granada..
  4. Fiorillo Damiano, 2007. "Il capitale sociale nel pensiero di John Maynard Keynes," CESMEP Working Papers 200701, University of Turin.

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