Keynes, Uncertainty and the Global Economy

Keynes, Uncertainty and the Global Economy

Beyond Keynes, Volume Two

Edited by Shelia C. Dow

The revival of interest in Keynesian economics since the late 1980s reinstates the importance of Keynes’s contribution to economic theory and policy. This is the second of two volumes in which authoritative contributions are presented by an outstanding group of international experts to celebrate Keynesian economics, and to review and further the developments of post Keynesian economics of recent years.

Introduction

Sheila C. Dow and John Hillard

Subjects: economics and finance, post-keynesian economics

Extract

Sheila C. Dow and John Hillard The first Keynes, Knowledge and Uncertainty conference was held in Leeds in 1993 under the aegis of the Post Keynesian Economics Study Group. The purpose of that conference was to gather together a distinguished international collection of authors to build on the impressive foundation of Keynes scholarship which had built up over the previous ten years. Not all were themselves Keynes scholars – some brought new insights from new developments in the philosophy of the physical sciences, and from postmodernism and rhetoric studies. The aim was to provide a forum for an exchange of ideas along the lines of taking forward the insights of Keynes, which were now better understood, in the development of methodology, theory and policy for the 1990s and beyond. The proceedings of this conference were published by Edward Elgar in 1995, under the title of Keynes, Knowledge and Uncertainty. The second Keynes, Knowledge and Uncertainty conference took place in Leeds in 1996, again under the aegis of the Post Keynesian Economics Study Group. Its aim was to build on the work of the first conference, taking ideas forward still. This theme is encapsulated in the title for the conference volumes, Beyond Keynes. The majority of chapters in the Keynes, Knowledge and Uncertainty volume had focused on the methodological implications of Keynes’s philosophy, spelling out in particular the implications of adopting a non-dualistic, open-system mode of theorizing. But two chapters in particular (by Skidelsky and Fitzgibbons) reminded us of the ultimate goal,...