The Appeal of Neoclassical Economics: Some Insights from Keynes's Epistemology
Cambridge Journal of Economics, 1995, vol. 19, issue 6, 715-33
Neoclassical economics continues to hold a particularly strong appeal for economists, in spite of concerns about its internal logic and applicability to policy issues. This appeal can be understood in terms of Keynes's system of logic which established grounds for rational belief when knowledge is, in general, uncertain. Mainstream methodology limits economic theory to those elements of the economic process which can, in practice, be represented by a closed, formal system; a high degree of certainty can be achieved within those limits. Keynes's more general epistemology supports a methodology which can increase knowledge beyond those limits, and thus extend the applicability of economics. If this approach is to be pursued, economics education needs to be broadened. (c) 1995 Academic Press Limited Copyright 1995 by Oxford University Press.
References: Add references at CitEc
Citations: View citations in EconPapers (2) Track citations by RSS feed
There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
Persistent link: https://EconPapers.repec.org/RePEc:oup:cambje:v:19:y:1995:i:6:p:715-33
Ordering information: This journal article can be ordered from
Access Statistics for this article
Cambridge Journal of Economics is currently edited by Jacqui Lagrue
More articles in Cambridge Journal of Economics from Oxford University Press Oxford University Press, Great Clarendon Street, Oxford OX2 6DP, UK.
Bibliographic data for series maintained by Oxford University Press ().