Expectations, uncertainty, and instability in capitalism: an approach from Keynes

Rogério Pereira de Andrade ()

Brazilian Journal of Political Economy, 1987, vol. 7, issue 2, 245-260

Abstract: This paper deals with some crucial aspects found in Keynes theoretical contribution.We intend to show the importance of time, expectations, and uncertainty in hisanalytical scheme and how he explains the existence of capitalism instability taking intoaccount these elements as constitutive of the capitalistic system. Furthermore, we make somephilosophical digression on the nature and importance of decisions in a context of time anduncertainty about the future that necessarily surrounds all human action. JEL Classification: B22; B31; E12.

Keywords: Keynes; history of economic thought; time; expectations; uncertainty (search for similar items in EconPapers)
Date: 1987
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