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J.M. Keynes: The Modernity of an Un-Modern Economist


  • Anna Carabelli

    () (Università del Piemonte Orientale)

  • Mario Cedrini

    () (Università di Torino)

  • Roberto Marchionatti

    () (Università di Torino)


The paper provides a panoramic view on Keynes’s way of reasoning in economics, with a view to highlight the radical “difference” of his thinking with respect to both scholars of his times and contemporary economists. We argue that Keynes was un-modern in the 1930s as he is (and appears) un-modern today; but also that in this lies his modernity. Keynes is modern in trying to transform economics into a discipline of complexity; still, he is profoundly un-modern when discussing the conditions that economics must meet in order to achieve this result. The paper evidences in his strong commitment to avoiding any reductionist approach to the complexity of socio-economic systems the undisputed greatness of his thought.

Suggested Citation

  • Anna Carabelli & Mario Cedrini & Roberto Marchionatti, 2017. "J.M. Keynes: The Modernity of an Un-Modern Economist," Annals of the Fondazione Luigi Einaudi. An Interdisciplinary Journal of Economics, History and Political Science, Fondazione Luigi Einaudi, Torino (Italy), vol. 51(1), pages 17-54, June.
  • Handle: RePEc:fle:journl:v:51:y:2017:i:1:p:17-54
    DOI: 10.26331/1002

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    More about this item


    John Maynard Keynes; Methodology; Behaviour under uncertainty; Complexity;

    JEL classification:

    • A13 - General Economics and Teaching - - General Economics - - - Relation of Economics to Social Values
    • B31 - Schools of Economic Thought and Methodology - - History of Economic Thought: Individuals - - - Individuals
    • B41 - Schools of Economic Thought and Methodology - - Economic Methodology - - - Economic Methodology
    • E12 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - Keynes; Keynesian; Post-Keynesian; Modern Monetary Theory
    • F4 - International Economics - - Macroeconomic Aspects of International Trade and Finance


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