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Further issues on the Keynes--Hume connection relating to the theory of financial markets in the General Theory

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  • Anna Maria Carabelli
  • Mario Aldo Cedrini

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 light of the Keynes--Sraffa correspondence on Hume's Abstract , and emphasise the theoretical legacy of Keynes's 1910 lectures on speculation for the analysis of financial markets in the General Theory .

Suggested Citation

  • Anna Maria Carabelli & Mario Aldo Cedrini, 2013. "Further issues on the Keynes--Hume connection relating to the theory of financial markets in the General Theory," The European Journal of the History of Economic Thought, Taylor & Francis Journals, vol. 20(6), pages 1071-1100, December.
    • Handle: RePEc:taf:eujhet:v:20:y:2013:i:6:p:1071-1100
    DOI: 10.1080/09672567.2013.792377
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    References listed on IDEAS

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    1. George A. Akerlof, 2009. "How Human Psychology Drives the Economy and Why It Matters," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 91(5), pages 1175-1175.
    2. Fitzgibbons, Athol, 1988. "Keynes's Vision: A New Political Economy," OUP Catalogue, Oxford University Press, number 9780198286417.
    3. Anna Carabelli, 1998. "Keynes on Probability, Uncertainty and Tragic Choices," Cahiers d'Économie Politique, Programme National Persée, vol. 30(1), pages 187-226.
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    Cited by:

    1. Mario Cedrini & Marco Novarese, 2015. "The challenge of fear to economics," Mind & Society: Cognitive Studies in Economics and Social Sciences, Springer;Fondazione Rosselli, vol. 14(1), pages 99-106, June.

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