The Epistemological Foundations of The General Theory

Elba Brown-Collier and Randall Bausor

Scottish Journal of Political Economy, 1988, vol. 35, issue 3, 227-41

Abstract: This paper examines the conceptual and philosophical links between Keynes's Treatise on Probability a nd The General Theory. The authors argue that the epistemological ide as of the former book, particularly the distinction between "atomisti c" and "organic" thought, motivate many of the methodological decisio ns underlying the analysis of the latter. Recognizing that insight into the economy is a type of "organic" knowledge contributed to Keynes's emphasis on fully integrating financial conditions into the theory of income determination, influenced his arguments about invest ment behavior in the face of true uncertainty, and governed his attit ude toward statistical empirical methods. Copyright 1988 by Scottish Economic Society.

Date: 1988
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Persistent link: https://EconPapers.repec.org/RePEc:bla:scotjp:v:35:y:1988:i:3:p:227-41

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