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Conclusions

In: Keynes on Uncertainty and Tragic Happiness

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  • Anna M. Carabelli

    (University of Eastern Piedmont Amedeo Avogadro)

Abstract

The final chapter brings together the different arguments of the book in the Conclusions. Keynes holds a philosophy of measure, which contrasts with the scientist view of economics. He holds a view on economics as a moral science where ethics, in particular his speculative ethics concerning the ultimate ends of life, is fundamental to understand the role of economics just as a means. Keynes attributes uncertainty to ignorance, incommensurability of probability and tragic choices. Greek tragedy pervades all his thought. His anti-utilitarian ethics is a Greek ethics of virtue (a life worth living) and his happiness is Aristotelian eudaimonia (happiness is the ultimate end of life rather than the love of money). Economics and money are only means and material preconditions to reach goodness and happiness in life. Irreducible conflicts, tragic rational dilemmas and logical paradoxes and fallacies characterise his way of reasoning from his macroeconomics to his approach to international relations, as in the case of Bretton Woods.

Suggested Citation

  • Anna M. Carabelli, 2021. "Conclusions," Palgrave Studies in the History of Economic Thought, in: Keynes on Uncertainty and Tragic Happiness, chapter 0, pages 151-154, Palgrave Macmillan.
    • Handle: RePEc:pal:pshchp:978-3-030-75665-9_9
    DOI: 10.1007/978-3-030-75665-9_9
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