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Keynes on Uncertainty and Tragic Happiness - Complexity and Expectations (Hardcover, 1st ed. 2021)
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Keynes on Uncertainty and Tragic Happiness - Complexity and Expectations (Hardcover, 1st ed. 2021)
Series: Palgrave Studies in the History of Economic Thought
Expected to ship within 12 - 17 working days
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Most economists who read the General Theory candidly admitted that
they could not understand the theoretical apparatus and found it
easy to recast it in traditional terms. This book provides a
masterful guide to the generally unrecognized methodological
revolution that supported the new theoretical concepts -- a
veritable lodestone that complements and expands understanding on
the treatment of the economic magnitudes appropriate to the ideal
of generality in the social sciences, to the applicability of
probability, to the formulation of decision-making under
uncertainty, and the foundations of economic policy in
interdependent economic systems. _Jan Kregel, Levy Economics
Institute Anna Carabelli sets out Keynes's understanding of
economics as a way of thinking, encompassing method and morals,
rather than as a doctrine. She does so with her customary admirable
scholarship and also her willingness to take controversial
positions. I commend the volume most highly to Keynes scholars as a
drawing-together and development of the themes that Carabelli has
pursued since the publication of her 1988 classic, On Keynes's
Method. Further Keynes's approach was designed to be applied to
different contexts, so I enthusiastically recommend the volume also
as a foundation and guide for anyone open to such a 'new way of
reasoning in economics' for the modern era. _Sheila Dow, University
of Stirling This book examines the philosophy and methodology of
Keynes, highlighting its novelty and how it presented a new form of
economic reasoning. Exploring Keynes's use of non-demonstrative
logic, based on probability, commonalities are found in his
economics, ethics, aesthetics, and international relations.
Insights are provided into his reasoning and his approach to
uncertainty, rationality, measurability of complex magnitudes,
moral and rational dilemmas, and irreducible conflicts. This book
investigates methodological continuity within Keynes's work, in
particular in relation to uncertainty, complexity,
incommensurability, happiness and openness. It will be relevant to
students and researchers interested in Keynes, probability,
ambiguity, ethics and the history of economic thought.
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