Dr. Keynes: Economic Theory in a Diagnostic Science
In his own view, economic theory was important to Keynes?s work as an economists. Aside from the General Theory, most of his economic writings, however policy oriented make explicit reference to theory. Nevertheless, Keynes?s theoretical style is so far from what contemporary economics regards as ?theory? that some have dismissed Keynes as a theorist altogether or thought of him as a theorist hampered by the lack of modern mathematical tools. In this paper, I argue to the contrary that Keynes?s theoretical style is conditioned by a conception of theory as a diagnostic tool. This is a natural development from Marshall, and conceptually very different from modern macroeconomists. It is nonetheless a very attractive conception of the place of theory in economics.
|Date of creation:||01 Apr 2005|
|Contact details of provider:|| Postal: One Shields Ave., Davis, CA 95616-8578|
Phone: (530) 752-0741
Fax: (530) 752-9382
Web page: http://www.econ.ucdavis.edu
More information through EDIRC
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Michel De Vroey, 2004.
"The History of Macroeconomics Viewed against the Background of the Marshall-Walras Divide,"
History of Political Economy,
Duke University Press, vol. 36(5), pages 57-91, Supplemen.
- Michel, DE VROEY, 2004. "The History of Macroeconomics Viewed Against the Background of the Marshall-Walras Divide," Discussion Papers (IRES - Institut de Recherches Economiques et Sociales) 2004017, Université catholique de Louvain, Institut de Recherches Economiques et Sociales (IRES).
- Milton Friedman, 1949. "The Marshallian Demand Curve," Journal of Political Economy, University of Chicago Press, vol. 57, pages 463-463.
- Hendry,David F. & Morgan,Mary S., 1997. "The Foundations of Econometric Analysis," Cambridge Books, Cambridge University Press, number 9780521588706.
- Hendry,David F. & Morgan,Mary S., 1995. "The Foundations of Econometric Analysis," Cambridge Books, Cambridge University Press, number 9780521380430, September.
- Hicks, J. R., 1975. "Value and Capital: An Inquiry into some Fundamental Principles of Economic Theory," OUP Catalogue, Oxford University Press, edition 2, number 9780198282693.
- Bradley W. Bateman, 1990. "Keynes, Induction, and Econometrics," History of Political Economy, Duke University Press, vol. 22(2), pages 359-379, Summer.
- Roger E. Backhouse & Jeff Biddle, 2000. "The Concept of Applied Economics: A History of Ambiguity and Multiple Meanings," History of Political Economy, Duke University Press, vol. 32(5), pages 1-24, Supplemen.
- Hoover, Kevin D., 2004. "Lost Causes," Journal of the History of Economic Thought, Cambridge University Press, vol. 26(02), pages 149-164, June. Full references (including those not matched with items on IDEAS)
When requesting a correction, please mention this item's handle: RePEc:cda:wpaper:06-3. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Scott Dyer)
If references are entirely missing, you can add them using this form.