EconPapers    
Economics at your fingertips  
 

Theoretical Practice and the Foundational Level of Macroeconomic Analysis: Reflections on the Work of Fernando Cardim de Carvalho

Gary Dymski and Danielle Guizzo ()

Review of Political Economy, 2021, vol. 33, issue 3, 511-528

Abstract: This paper celebrates the contributions to Keynesian theory of the late Brazilian economist Fernando Cardim de Carvalho (1953–2018). We use Carvalho’s 12 refereed English-language papers on Keynesian theory — the first published in 1983, the last in 2016 — as a point of departure for reflecting on two questions confronting macroeconomists today. First, what is the work of the economist — in what does economic analysis consist? Second, in this post-crisis era, how might macroeconomics — and specifically Keynesian macroeconomics — be rebuilt? Carvalho’s writings show that the work of the economist can be as much about understanding the raw elements of human behavior in the real world — what we will call the foundational level of analysis — as about constructing models depicting the momentum of economic systems incorporating these behaviors. Adopting this approach to the practice of theory leads to insights and frameworks that would be lost if macroeconomic theorizing were equated with formal model building: it will enrich exchanges among economists, deepen the conceptual roots of Post Keynesian macroeconomics, and facilitate interdisciplinary exchange.

Date: 2021
References: Add references at CitEc
Citations: Track citations by RSS feed

Downloads: (external link)
http://hdl.handle.net/10.1080/09538259.2020.1841369 (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:taf:revpoe:v:33:y:2021:i:3:p:511-528

Ordering information: This journal article can be ordered from
http://www.tandfonline.com/pricing/journal/CRPE20

DOI: 10.1080/09538259.2020.1841369

Access Statistics for this article

Review of Political Economy is currently edited by Steve Pressman and Louis-Philippe Rochon

More articles in Review of Political Economy from Taylor & Francis Journals
Bibliographic data for series maintained by Chris Longhurst ().

 
Page updated 2021-09-08
Handle: RePEc:taf:revpoe:v:33:y:2021:i:3:p:511-528