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Keynes, Kalecki, and Minsky – Post Keynesian champions in comparison or: joining forces, horses for courses or the necessity of discrimination?

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  • Arne Heise

    (University of Hamburg, Hamburg (Germany))

Abstract

The effort to pluralise economics requires informed choices about paradigms, understanding their features and affiliations. Theories must be compared based on their paradigmatic localisation. A hermeneutic analysis challenges the view that Keynes, Kalecki, and Minsky share a unified Post Keynesian paradigm. Kalecki’s closed system contrasts with Keynes’s open system, suggesting Kalecki may share structural similarities with newKeynesian models. Minsky, however, shares Keynes’s open system ontology. This indicates that ‘Post Keynesianism’ may misleadingly suggest coherence where significant differences exist.

Suggested Citation

  • Arne Heise, 2025. "Keynes, Kalecki, and Minsky – Post Keynesian champions in comparison or: joining forces, horses for courses or the necessity of discrimination?," The Journal of Philosophical Economics, Bucharest Academy of Economic Studies, The Journal of Philosophical Economics, vol. 18(1), pages 203-234, Annual.
    • Handle: RePEc:bus:jphile:v:18:y:2025:i:1:n:6
    DOI: 10.46298/jpe.16549
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    JEL classification:

    • B4 - Schools of Economic Thought and Methodology - - Economic Methodology
    • Z1 - Other Special Topics - - Cultural Economics

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