The road to The General Theory: J. M. Keynes, F. A. Hayek, and the Genealogy of Macroeconomics

Keanu Telles da Costa ()

Brazilian Journal of Political Economy, 2022, vol. 42, issue 1, 48-70

Abstract: The criticism made by Friedrich A. Hayek to A Treatise on Money by JohnMaynard Keynes, and the subsequent controversy that followed with the involvement ofmembers of the Cambridge Circus, sustained important elements to Keynes’ abandonmentof his earlier ideas and to his way to General Theory. The figure and position of Hayekoperated to clarify the underlying differences and the new theoretical routes for Keynes,one that was more explicitly opposite to critical authors drawing from Knut Wicksell. Tosome degree, the road to General Theory was paved in the famous 1931 controversy – inparticular the rejection of the Wicksell connection. JEL Classification: B22; B31; E12; E30.

Keywords: John Maynard Keynes; Friedrich A. Hayek; Knut Wicksell; General Theory; coordination (search for similar items in EconPapers)
Date: 2022
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