Vicarelli, Keynes’s Vision of Capitalism, and Currency Speculation

Paul Davidson and Giancarlo Gandolfo

Chapter 3 in Economic Theory and Social Justice, 1999, pp 89-120 from Palgrave Macmillan

Abstract: Abstract In his book Keynes: The Instability of Capitalism, (1984) Fausto Vicarelli argues that to understand Keynes’ analysis one must recognize Keynes’s ‘Vision of Capitalism’. According to Vicarelli (1984, p. 3): ‘Keynes displayed an enviable ability to identify basic causes and themes to draw conclusions of general validity for the understanding of capitalism. Compared to traditional economic theory, permeated with its abstract concepts and cautions engendered by “marginalist” economics, this was a revolutionary way of attacking reality’.

Date: 1999
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DOI: 10.1007/978-1-349-26981-5_6

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