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Vicarelli, Keynes’s Vision of Capitalism, and Currency Speculation

In: Economic Theory and Social Justice

Author

Listed:
  • Paul Davidson
  • Giancarlo Gandolfo

Abstract

In his book Keynes: The Instability of Capitalism, (1984) Fausto Vicarelli argues that to understand Keynes’ analysis one must recognize Keynes’s ‘Vision of Capitalism’. According to Vicarelli (1984, p. 3): ‘Keynes displayed an enviable ability to identify basic causes and themes to draw conclusions of general validity for the understanding of capitalism. Compared to traditional economic theory, permeated with its abstract concepts and cautions engendered by “marginalist” economics, this was a revolutionary way of attacking reality’.

Suggested Citation

  • Paul Davidson & Giancarlo Gandolfo, 1999. "Vicarelli, Keynes’s Vision of Capitalism, and Currency Speculation," Palgrave Macmillan Books, in: Giancarlo Gandolfo & Ferruccio Marzano (ed.), Economic Theory and Social Justice, chapter 3, pages 89-120, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-349-26981-5_6
    DOI: 10.1007/978-1-349-26981-5_6
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