Macroeconomic Methodology: A Post-Keynesian Perspective - Softcover

Jespersen, Jesper

Softcover

ISBN 10: 0857937588 ISBN 13: 9780857937582

Publisher: Edward Elgar Publishing Ltd, 2011

Synopsis

Furthermore, it is convincingly argued that one of the lasting contributions of John Maynard Keynes was his emphasis on methodology; that macroeconomic consequences of uncertainty could not be analysed within the established general equilibrium framework. It is due to post-Keynesian economics supported by critical realism that the understanding of Keynes's methodology has been resurrected, which has eventually resulted in renewed debate on realistic macroeconomic policies to restore full employment without inflation. Macroeconomic Methodology is an inquiry into the question of how to conduct a proper scientific analysis of uncertainty within macroeconomics. It will be of great interest to scholars of the philosophy of social sciences and methodology, as well as post-Keynesian and heterodox economists.

About this title

Review:

'Methodological practice is at the heart of divisions between schools of macroeconomic thought. Jesper Jespersen's book explains why and precisely how, and gives the reader the insight to choose between rival approaches. His own inspiration comes from Critical Realism and Popper's Three World analysis, with Keynes as the main exponent of a realist approach. The starting point of realist theory is a view of how the world is, rather than axioms, and the test is whether the theory can make, as Jespersen puts it, the round trip back to realityA", to give practical guidance to policy. This is only the focal point of a rich and attractive canvas. How I wish this book had been available when I taught methodology! And how I wish economists from all schools of thought would read it!' --- Bengt-A...ke Lundvall, University of Aalborg, Denmark

From the Author:

Jesper Jespersen, Professor of Economics, Roskilde University and Aalborg University, Denmark

About this edition

• Publisher: Edward Elgar Publishing Ltd
• Publication date: 2011
• ISBN 10: 0857937588
• ISBN 13: 9780857937582
• Binding: Paperback
• Number of pages: 272