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Carabelli & de Vecchi on Keynes and Hayek

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Author Info
William Butos
Roger Koppl

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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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Publisher Info
Article provided by Taylor and Francis Journals in its journal Review of Political Economy.

Volume (Year): 16 (2004)
Issue (Month): 2 (April)
Pages: 239-247
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Handle: RePEc:taf:revpoe:v:16:y:2004:i:2:p:239-247

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Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:

  1. Anna Carabelli, Nicolò De Vecchi, 2001. "Hayek and Keynes: from a common critique of economic method to different theories of expectations," Review of Political Economy, Taylor and Francis Journals, vol. 13(3), pages 269-285, July. [Downloadable!] (restricted)
  2. Koppl, Roger, 1991. "Retrospectives: Animal Spirits," Journal of Economic Perspectives, American Economic Association, vol. 5(3), pages 203-10, Summer. [Downloadable!] (restricted)
  3. 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. [Downloadable!]
  4. Roger Koppl, William Butos, 2001. "Confidence in Keynes and Hayek: Reply to Burczak," Review of Political Economy, Taylor and Francis Journals, vol. 13(1), pages 81-86, January. [Downloadable!] (restricted)
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Cited by:
(explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)

  1. Miguel A. Durán, 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.. [Downloadable!]
  2. Anna Carabelli & Nicolò De vecchi, 2004. "On Hayek and Keynes once again: a reply to Butos & Koppl," Review of Political Economy, Taylor and Francis Journals, vol. 16(2), pages 249-256, April. [Downloadable!] (restricted)
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