Keynes’ work on methodology was not insignificant. In fact, Keynes’ methodological contribution has been neglected generally, being overshadowed by his other work on economic theory and policy analysis. Post Keynesian economics arose out of the failures of neoclassical theory and its insufficient depiction of economic activity. Although Post-Keynesian economists do have many different ideas about the theoretical approach and assumptions compared to neoclassicists, they nevertheless all criticize the same points of the orthodox theory. On the following pages I will talk about the main methodological issues of the Post-Keynesian theory and work out the main differences to the neoclassical approach.
Inhaltsverzeichnis (Table of Contents)
- Introduction
- Background
- The main motive for the Keynesian theory
- The development of Post Keynesian thinking
- Philosophical foundation
- Different approaches of Post Keynesianism: Critical Realism vs. Babylonian approach
- Post Keynesianism as a Political Economy
- Post Keynesian methodology
- Main features of Post Keynesian methodology
- A closer look to the definition of uncertainty and the long-run non-neutrality of money
- Post Keynesianism in comparison to the neoclassical approach
- An overview of the most important differences between the neoclassical theory and the Post Keynesian theory
- Conclusion
Zielsetzung und Themenschwerpunkte (Objectives and Key Themes)
This work explores the methodological underpinnings of Post Keynesian economics, analyzing its development and distinctive characteristics. The primary objective is to delineate the key differences between the Post Keynesian approach and the dominant neoclassical paradigm. The text delves into the philosophical foundations of Post Keynesianism, highlighting its critical realism and epistemological relativism. It also examines the practical implications of Post Keynesian methodology in the context of economic policy and decision-making.
- The emergence and evolution of Post Keynesian economics
- Key methodological distinctions between Post Keynesian and neoclassical perspectives
- The influence of philosophical foundations on Post Keynesian economic thought
- The role of uncertainty and the non-neutrality of money in Post Keynesian analysis
- The implications of Post Keynesian methodology for economic policy and decision-making
Zusammenfassung der Kapitel (Chapter Summaries)
- Introduction: The introductory chapter sets the stage by outlining the significance of Keynes' methodological contributions and the reasons for the rise of Post Keynesian economics. It highlights the limitations of neoclassical theory and the shared critique of its assumptions among Post Keynesians.
- Background: This chapter delves into the historical context of the emergence of Keynesian theory. It discusses the motives behind its development in response to the Great Depression and the critiques it faced from both political and theoretical perspectives. It then traces the evolution of Post Keynesian thinking, highlighting the key figures and intellectual influences that shaped the field.
- Post Keynesianism as a Political Economy: This chapter explores the political and social dimensions of Post Keynesian economics, emphasizing its focus on real-world problems and its departure from the abstract, equilibrium-oriented models of neoclassical theory.
- Post Keynesian methodology: This chapter delves into the core methodological principles of Post Keynesian economics. It discusses the key features that differentiate it from neoclassical methodology, such as the emphasis on uncertainty, history, and the non-neutrality of money.
- Post Keynesianism in comparison to the neoclassical approach: This chapter provides a detailed comparison of the major differences between the Post Keynesian and neoclassical perspectives on key economic concepts. It contrasts their assumptions, analytical frameworks, and policy implications.
Schlüsselwörter (Keywords)
The primary keywords and focus topics of this work include Post Keynesian economics, neoclassical economics, methodology, uncertainty, history, non-neutrality of money, critical realism, epistemological relativism, economic policy, and decision-making. The work examines the theoretical and practical implications of the Post Keynesian approach, highlighting its key differences from the dominant neoclassical paradigm.
- Citation du texte
- Kant Tatjana (Auteur), 2009, Post Keynesian Methodology, Munich, GRIN Verlag, https://www.grin.com/document/150435
