General Theory-Special Case Relationships: Keynes and Neoclassicism

O'Donnell, R

General Theory-Special Case Relationships: Keynes and Neoclassicism

O'Donnell, R

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Publisher:: Routledge
Publication Type:: Journal Article
Citation:: Review of Political Economy, 2022, 34, (4), pp. 709-734
Issue Date:: 2022-01-01

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Field	Value	Language
dc.contributor.author	O'Donnell, R
dc.date.accessioned	2022-11-30T01:15:31Z
dc.date.available	2022-11-30T01:15:31Z
dc.date.issued	2022-01-01
dc.identifier.citation	Review of Political Economy, 2022, 34, (4), pp. 709-734
dc.identifier.issn	0953-8259
dc.identifier.issn	1465-3982
dc.identifier.uri	http://hdl.handle.net/10453/163863
dc.description.abstract	In economic theory, methodology and philosophy, general theory-special case relationships are rarely investigated. In 1936, Keynes challenged orthodoxy with the claim that his general theory embraced orthodoxy as a special case. Orthodoxy counter-claimed that its theory was the only general theory within which Keynes’s could only be a special case. This paper explores the important issues behind the dispute in three parts. Part A examines the conceptual and methodological foundations of the opposing claims, finding that each side deploys a different model of these relationships. Part B explores all of Keynes’s theoretical works and finds that his 1936 model underpins all his theoretical work in philosophy and economics. Part C concludes with methodological reflections on the conceptual foundations of the dispute.
dc.language	en
dc.publisher	Routledge
dc.relation.ispartof	Review of Political Economy
dc.relation.isbasedon	10.1080/09538259.2021.1964768
dc.rights	info:eu-repo/semantics/closedAccess
dc.subject	1401 Economic Theory, 1402 Applied Economics, 1606 Political Science
dc.subject.classification	Economics
dc.title	General Theory-Special Case Relationships: Keynes and Neoclassicism
dc.type	Journal Article
utslib.citation.volume	34
utslib.for	1401 Economic Theory
utslib.for	1402 Applied Economics
utslib.for	1606 Political Science
pubs.organisational-group	/University of Technology Sydney
pubs.organisational-group	/University of Technology Sydney/Faculty of Business
pubs.organisational-group	/University of Technology Sydney/Faculty of Business/Management Discipline
utslib.copyright.status	closed_access	*
pubs.consider-herdc	false
dc.date.updated	2022-11-30T01:15:30Z
pubs.issue	4
pubs.publication-status	Published
pubs.volume	34
utslib.citation.issue	4

Abstract:

In economic theory, methodology and philosophy, general theory-special case relationships are rarely investigated. In 1936, Keynes challenged orthodoxy with the claim that his general theory embraced orthodoxy as a special case. Orthodoxy counter-claimed that its theory was the only general theory within which Keynes’s could only be a special case. This paper explores the important issues behind the dispute in three parts. Part A examines the conceptual and methodological foundations of the opposing claims, finding that each side deploys a different model of these relationships. Part B explores all of Keynes’s theoretical works and finds that his 1936 model underpins all his theoretical work in philosophy and economics. Part C concludes with methodological reflections on the conceptual foundations of the dispute.

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http://hdl.handle.net/10453/163863