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Going for the Juglar: Keynes, Schumpeter and the Theoretical Crisis of Economics

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  • Freema, Alan

Abstract

This paper was presented in the session on ‘Long Waves in Political Economy’ organised by Ingo Schmidt at the Congress of the Humanities and Social Sciences, Ottawa, June 1-4 2015. It discusses the ‘theoretical turn’ towards state intervention in the last Great Depression and the need for clarity about the underlying views of Keynes and Schumpeter – two of the major opposed players in that theoretical turn. It argues that primary function of economics as an esoteric discipline disguises the essence of these underlying theoretical positions. Thus in order to make a rational and evidence-based connection between theory and policy, attention both to interpretation and to assertive pluralism is indispensable.

Suggested Citation

  • Freema, Alan, 2015. "Going for the Juglar: Keynes, Schumpeter and the Theoretical Crisis of Economics," MPRA Paper 64809, University Library of Munich, Germany, revised 05 Jun 2015.
  • Handle: RePEc:pra:mprapa:64809
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    File URL: https://mpra.ub.uni-muenchen.de/65383/1/MPRA_paper_64809.pdf
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    References listed on IDEAS

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    1. Freeman, Alan, 2015. "Introduction to Chris Freeman’s “Schumpeter’s ‘Business Cycles’ Revisited”," European Journal of Economic and Social Systems, Lavoisier, vol. 27(1-2), pages 37-46.
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    Cited by:

    1. Freeman, Alan, 2015. "Social Structures of disaccumulation: a 101 on the rate of profit and the cause of crisis," MPRA Paper 69649, University Library of Munich, Germany, revised 21 Feb 2016.

    More about this item

    Keywords

    pluralism; political economy; economics;

    JEL classification:

    • B0 - Schools of Economic Thought and Methodology - - General
    • B4 - Schools of Economic Thought and Methodology - - Economic Methodology

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