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Post-Keynesian Economics: Theory and Ethics

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  • Amitava Krishna Dutt

Abstract

This paper, written to honor the memory of Geoff Harcourt, uses his ethical perspectives and his views on post-Keynesian economic theory as a starting point for examining the relationship between theories and ethical values in economics. Although ethical values can have a variety of foundations and these values are known to have a strong influence on the nature of theories, this paper argues that the theories also can provide justifications for ethical perspectives. This is done mainly by examining the roles of uncertainty, historical time, class distinctions and a systemic, rather than an individual-based, approach, which are important for post-Keynesian theories advocated by Harcourt. It is argued that the theories justify and reinforce egalitarian ethics in post-Keynesian economics, which are central to Harcourt's ethical views.

Suggested Citation

  • Amitava Krishna Dutt, 2026. "Post-Keynesian Economics: Theory and Ethics," Review of Political Economy, Taylor & Francis Journals, vol. 38(1), pages 45-66, January.
    • Handle: RePEc:taf:revpoe:v:38:y:2026:i:1:p:45-66
    DOI: 10.1080/09538259.2025.2504402
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