What was the primary factor encouraging mainstream economists to marginalize post Keynesian theory?
Paul Davidson
Journal of Post Keynesian Economics, 2015, vol. 37, issue 3, 369-383
Abstract:
Paul Samuelson’s own words are used to demonstrate that he and his “Keynesian” followers never comprehended Keynes’s general theory or the Post Keynesian development of Keynes’s analysis. Samuelson claimed that Keynes’s theory is a slow adjusting Walrasian system and any theory which rejected the Walrasian foundations is not a valid economic theory. Samuelson’s arrogance in believing he had discovered the “Foundations of Economic Analysis” is the primary factor that has marginalized Post Keynesian theory. Keynes had explicitly rejected Walras’s system. Sidney Weintraub, a founder of Post Keynesian theory, developed the Marshallian micro foundations that are the foundations of Keynes’s general theory.
Date: 2015
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)
Downloads: (external link)
http://hdl.handle.net/10.1080/01603477.2015.1000093 (text/html)
Access to full text is restricted to subscribers.
Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
HTML/Text
Persistent link: https://EconPapers.repec.org/RePEc:mes:postke:v:37:y:2015:i:3:p:369-383
Ordering information: This journal article can be ordered from
http://www.tandfonline.com/pricing/journal/MPKE20
DOI: 10.1080/01603477.2015.1000093
Access Statistics for this article
More articles in Journal of Post Keynesian Economics from Taylor & Francis Journals
Bibliographic data for series maintained by Chris Longhurst ().