How, and for How Long, Did Keynes maintain theTreatiseTheory?

2007 ◽  
Vol 29 (3) ◽  
pp. 283-307
Author(s):  
Toshiaki Hirai
Keyword(s):  
Economic Theory ◽  
General Theory ◽  
Theory Building ◽  
Clear Understanding ◽  
Crucial Importance ◽  
Monetary Reform ◽  
Interesting Phenomenon ◽  
John Maynard Keynes ◽  
Primary Material ◽  
Intellectual Journey

Many historians of economic theory have studied how John Maynard Keynes developed his theory fromA Tract on Monetary ReformthroughA Treatise on Money(hereafter theTreatise) toThe General TheoryofEmployment, Interest and Money(hereafter theGeneral TheoryorGT). After the pioneering studies by Moggridge (1973) and Patinkin (1976, 1982), there followed Dimand (1988), Amdeo (1989), Clarke (1988, 1998), Meltzer (1988), Moggridge (1992), Skidelsky (1992), Laidler (1999), and others. This is no wonder, for the Keynesian Revolution remains the most singular phenomenon that economic theory and policy have ever seen. Although the objective of our entire project has been to shed new light on this important and interesting phenomenon, examining and analyzing the processes of theory-building and rebuilding which constitute Keynes's intellectual journey (see Hirai 1997–99), the present paper focuses solely on one chapter in the long story of the transition through his three major works. The very fact of addressing the questions, “How did Keynes maintain the theory developed in theTreatiseafter its publication (October 1930), and for how long?” narrows the period under study to approximately two years which span roughly from October 1930 through October 1932. Our scrutiny will range over the original texts and primary material such as manuscripts, lecture notes, and correspondence produced over this period, and our findings will rest on the meticulous analysis of material of crucial importance for a clear understanding of Keynes's theoretical situation. We will also offer our comments on the earlier efforts insofar as they relate to the period in question.

Flow, Code and Stock: A Note on Deleuze's Political Philosophy

2011 ◽  
Vol 5 (supplement) ◽  
pp. 36-55 ◽  
Author(s):  
Daniel W. Smith
Keyword(s):  
Economic Theory ◽  
Political Philosophy ◽  
General Theory ◽  
Political Theory ◽  
Social Contract ◽  
Deleuze And Guattari ◽  
John Maynard Keynes ◽  
New Concepts ◽  
The Social ◽  
Marxist Analysis

In Anti-Oedipus, Deleuze and Guattari claim that a general theory of society must be a generalised theory of flows. This is hardly a straightforward claim, and this paper attempts to examine the grounds for it. Why should socio-political theory be based on a theory of flows rather than, say, a theory of the social contract, or a theory of the State, or the questions of legitimation or revolution, or numerous other possible candidates? The concept of flow (and the related notions of code and stock), I argue, is derived from contemporary economic theory, and most notably John Maynard Keynes. Deleuze and Guattari remained Marxists, not only because they held that contemporary political philosophy must inevitably be centred on the analysis of capitalism, but also because they held, following Marx himself, that the Marxist analysis of capital must constantly be transformed and adapted to new conditions. Thus, while certain aspects of Marx's analysis disappear from Capitalism and Schizophrenia, they are supplemented by the addition of new concepts adequate to the contemporary state of capitalism. The paper concludes, then, with an analysis of the role played by the concepts of flow, code and stock in Deleuze and Guattari's political philosophy.

The Theory Arsenal: The Cambridge Circus and the Origins of the Keynesian Revolution

2002 ◽  
Vol 24 (1) ◽  
pp. 5-37 ◽  
Author(s):  
Nahid Aslanbeigui ◽  
Guy Oakes
Keyword(s):  
Economic Theory ◽  
General Theory ◽  
Karl Marx ◽  
George Bernard Shaw ◽  
John Maynard Keynes ◽  
Economic Problems ◽  
The World ◽  
State Of Mind ◽  
Bernard Shaw ◽  
The Way

In the winter of 1934–35, when John Maynard Keynes was beginning to circulate proofs of The General Theory of Employment, Interest, and Money, he indulged in a playful exchange of letters with George Bernard Shaw devoted mainly to the merits of Karl Marx as an economist. At the end of his letter of January 1, 1935, Keynes's observations took a more serious turn, documenting fundamental changes in his theoretical ambitions following the publication of his Treatise on Money in 1930: “To understand my state of mind, however, you have to know that I believe myself to be writing a book on economic theory which will largely revolutionize—not, I suppose, at once but in the course of the next ten years—the way the world thinks about economic problems” (Keynes 1973a, p. 492).

scholarly journals AS CONCEPÇÕES DA TEORIA MONETARIA DE JOHN MAYNARD KEYNES: UM EXERCÍCIO CRONOLÓGICO

2009 ◽  
Vol 8 (13) ◽  
Author(s):  
Fernando Ferrari Filho
Keyword(s):  
General Theory ◽  
Economic Consequences ◽  
Monetary Reform ◽  
John Maynard Keynes

Este artigo investiga a evolução das idéias de Keynes relacionadas à teoria monetária. Na elaboração do trabalho, o autor desenvolve a análise a partir das seguintes obras: Indian Currency And Finance, 1913, The Economic Consequences Of The Peace, 1919, A Tract On Monetary Reform, 1923, A Treatise On Money, 1930, e The General Theory Of Employment. Interest And Money, 1936. Em termos de conclusão, o trabalho mostra que, em primeiro lugar, o pensamento keynesiano move-se de uma posição na qual a Teoria Quantitativa da Moeda está inserida no seu "approach" teórico para uma situação onde as relações monetárias e reais identificam-se através da teoria monetária da produção. Por fim, a transição entre as duas teorias monetárias inicia-se com o Tract e, principalmente, o Treatise e consolida-se com a General Theory.

scholarly journals W. Stark, J.M. Keynes and the Mercantilists

2021 ◽  
Author(s):  
Constantinos Repapis
Keyword(s):  
Economic Theory ◽  
General Theory ◽  
Sociology Of Knowledge ◽  
Economic Thought ◽  
Social Conditions ◽  
History Of Economic Thought ◽  
John Maynard Keynes ◽  
The Social ◽  
Intellectual Traditions ◽  
History Of

In this paper we investigate Werner Stark’s sociology of knowledge approach in the history of economic thought. This paper explores: 1) The strengths and weaknesses of Stark’s approach to historiography, 2) seeing how this can frame an understanding of mercantilist writings and, 3) develop a link between a pluralist understanding of economics, and the sociology of knowledge approach. The reason for developing this link is to extend the sociology of knowledge approach to encompass a pluralist understanding of economic theorising and, at the same time, clarify the link between context and economic theory. John Maynard Keynes’ practice of building narratives of intellectual traditions as evidenced in The General Theory is used to develop a position between an understanding of history of economic thought as the evolution of abstract and de-contextualized economic theorising and, the view of economic theory as only relevant within the social conditions from which it arose.

The Economic Theory of the Firm: A Generalization

2012 ◽  
pp. 41-66 ◽  
Author(s):  
M. Storchevoy
Keyword(s):  
Economic Theory ◽  
General Theory ◽  
Contract Theory ◽  
Theory Of The Firm ◽  
Material Structure ◽  
Structural Factors ◽  
Boundaries Of The Firm ◽  
Opportunistic Behaviour ◽  
New Variant

The paper deals with development of a general theory of the firm. It discusses the demand for such a theory, reviews existing approaches to its generalization, and offers a new variant of general theory of the firm based on the contract theory. The theory is based on minimization of opportunistic behaviour determined by the material structure of production (a classification of ten structural factors is offered). This framework is applied to the analysis of three boundaries problems (boundaries of the job, boundaries of the unit, boundaries of the firm) and five integration dilemmas (vertical, horizontal, functional, related, and conglomerate).

The Macroeconomic thought of Nicholas Barbon

2007 ◽  
Vol 29 (1) ◽  
pp. 101-116
Author(s):  
James H. Ullmer
Keyword(s):  
General Theory ◽  
Scientific Inquiry ◽  
Economic Thought ◽  
John Maynard Keynes ◽  
Major Defect

Nicholas Barbon (1640–1698) is little appreciated by most historians of economic thought. He is sporadically mentioned in a few writings—probably the most well-known being the favorable reference to him made by John Maynard Keynes (1883–1946) in The General Theory of Employment, Interest, and Money (Keynes 1936, p. 359). The fullest treatment of Barbon's economic ideas is contained in The Origin of Scientific Economics: English Economic Thought 1660–1776 by William Louis Letwin (Letwin 1963, pp. 48–75). Letwin considers a major defect of Barbon's first purely scientific inquiry into economics, A Discourse of Trade (Barbon 1690), and by implication, his other economic writings, to be “the logical incoherence of its parts” (Letwin 1963, p. 57). This criticism is not surprising in light of the pre-paradigm period in which Barbon was writing.

A Modern Kaleckian-Keynesian Framework for Economic Theory and Policy

2013 ◽  
pp. 309-325 ◽  
Author(s):  
Philip Arestis ◽  
Malcolm Sawyer
Keyword(s):  
Economic Theory ◽  
Monetary Policy ◽  
Fiscal Policy ◽  
Labor Markets ◽  
Macroeconomic Policy ◽  
Financial Policy ◽  
Policy Agenda ◽  
Macroeconomic Policies ◽  
John Maynard Keynes ◽  
Main Instrument

Macroeconomic policies come from the “vision” of the ways in which an economy works. A “vision” of the economy where unemployment is a frequent occurrence gives rise to quite different policies from a “vision” of the economy in which there is little room for unemployment of labor, as, for example, in the New Classical macroeconomics. The macroeconomic vision that underlies the policy agenda of this chapter is described as Kaleckian-Keynesian, as it draws on the works and ideas of Michal Kalecki and John Maynard Keynes and others that approach the matter in a similar fashion. This chapter explores a modern Kaleckian-Keynesian framework for economic theory and policy. It first discusses fiscal policy, the main instrument of macroeconomic policy, before turning to monetary policy as well as financial policy, inflation, and policies that relate to product markets and labor markets.

General Theory in the Study of Migration: Current Needs and Difficulties

1968 ◽  
Vol 3 (1) ◽  
pp. 3-18
Author(s):  
J. J. Mangalam ◽  
Harry K. Schwarzweller
Keyword(s):  
General Theory ◽  
Current Literature ◽  
Theoretical Approach ◽  
Theory Building ◽  
Extensive Review ◽  
Migration Research ◽  
Migration Data ◽  
Recent Trends

The need for a more comprehensive, general theoretical approach to the study of migration is widely recognized by sociologists and other behavioral scientists. At present, no major synthesizing effort, directly relevant to the concerns of sociologists, exists. Against a background of recent trends and lines of inquiry in migration research, drawn from an extensive review of the current literature, probable reasons are suggested for this “lag” in general theory-building. In addition to a number of misconceptions about the nature of migration, which continue to prevail, and difficulties stemming from the sources of migration data, which reinforce those misconceptions, the study of migration has suffered from a lack of concern on the part of our leading sociological theorists.

John Maynard Keynes

2017 ◽  
Author(s):  
John Kenneth Galbraith
Keyword(s):  
General Theory ◽  
Government Spending ◽  
Full Employment ◽  
Government Expenditures ◽  
John Maynard Keynes ◽  
Winston Churchill ◽  
Modern Economy ◽  
The Government

This chapter examines the economic ideas of John Maynard Keynes. According to Keynes, the modern economy does not necessarily find its equilibrium at full employment; it can find it with unemployment. This is the underemployment equilibrium, in which Say's Law no longer holds; there can be a shortage of demand. The government can and should take steps to overcome this shortage. The chapter discusses in more detail the underemployment equilibrium, the repeal of Say's Law, the call for government spending uncovered by revenues to sustain demand—all of which made up the so-called the Keynesian Revolution. In particular, it considers Keynes's central prescription that there should be government expenditures financed by borrowing to sustain demand and employment. It also analyzes Keynes's criticism of Winston Churchill, his A Treatise on Money (1930), and the economic discussion that followed the publication of The General Theory of Employment Interest and Money (1936).

Sign in / Sign up

Export Citation Format

Share Document