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On the New Appeal of Chapter 12 of the General Theory. Complicating Remarks on the Keynes-Hume Connection and the Presumed Novelty of the Analysis of Financial Markets in the General Theory

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  • Carabelli Anna M.

    ()

  • Cedrini Mario A.

    ()
    (University of Turin)

Abstract

A basic presupposition of the rediscovery, in the times of the crisis, of chapter 12 of the General Theory is that Keynes’s treatment of financial markets, and particularly the use of the notion of convention, represents a crucial novelty in both his economics and philosophy. The article offers complicating remarks to critically discuss this interpretation. In particular, we analyse the complex Keynes-Hume theoretical connection in the light of the Keynes-Sraffa correspondence on Hume’s Abstract, and emphasize the theoretical legacy of Keynes's 1910 lectures on speculation for the analysis of financial markets in the General Theory.

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File URL: http://www.cesmep.unito.it/WP/2012/2_WP_Cesmep.pdf
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Bibliographic Info

Paper provided by University of Turin in its series CESMEP Working Papers with number 201202.

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Length: 36 pages
Date of creation: Oct 2012
Date of revision:
Handle: RePEc:uto:cesmep:201202

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Web page: http://www.unito.it/
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Cited by:
  1. Carabelli, Anna M. & Cedrini, Mario, 2013. "A Methodological Reading of “The Economic Consequences of the Peace"," Department of Economics and Statistics Cognetti de Martiis. Working Papers 201351, University of Turin.

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